Loan Comparison: 2.87% vs 6.5%
6994 Peachleaf, Colorado Springs, CO 80925 · 5bd/3ba · $525,000
List Price
$525,000
Assumable Rate
2.87%
Remaining Balance
$386,508
Equity Gap
$138,491
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$138,491
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 4.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.87% + gap loan
$2,466/moAssumed loan: $1,603/mo
Gap financing: $863/mo
$687less per month with the assumable
Your Savings on This Property
6994 Peachleaf, Colorado Springs · 2.87% VA vs 6.5% conventional
$687
per month
$8,242
per year
$247,264
over 30 years
$247,263
interest saved
How gap financing works: The equity gap ($138,491) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($112,241 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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