Loan Comparison: 2.89% vs 6.5%
5220 Roundup Ridge, Colorado Springs, CO 80908 · 5bd/5ba · $1,495,000
List Price
$1,495,000
Assumable Rate
2.89%
Remaining Balance
$697,747
Equity Gap
$797,252
Loan Type
VAAdjust Your Scenario
$74,750
$74,750$797,252
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 5.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$8,977/moAssumable @ 2.89% + gap loan
$8,456/moAssumed loan: $2,900/mo
Gap financing: $5,555/mo
$521less per month with the assumable
Your Savings on This Property
5220 Roundup Ridge, Colorado Springs · 2.89% VA vs 6.5% conventional
$521
per month
$6,252
per year
$187,572
over 30 years
$187,571
interest saved
How gap financing works: The equity gap ($797,252) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($74,750, 5% of purchase price) and a second mortgage for the rest ($722,502 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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