Loan Comparison: 4.98% vs 6.5%
7851 Lathrop, Colorado Springs, CO 80924 · 3bd/3ba · $500,000
List Price
$500,000
Assumable Rate
4.98%
Remaining Balance
$462,831
Equity Gap
$37,168
Loan Type
VAAdjust Your Scenario
$25,000
$25,000$37,168
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (VA)
Blended Rate: 5.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 4.98% + gap loan
$2,572/moAssumed loan: $2,479/mo
Gap financing: $94/mo
$430less per month with the assumable
Your Savings on This Property
7851 Lathrop, Colorado Springs · 4.98% VA vs 6.5% conventional
$430
per month
$5,158
per year
$154,742
over 30 years
$154,741
interest saved
How gap financing works: The equity gap ($37,168) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($12,168 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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