Loan Comparison: 2.9% vs 6.5%
6351 Passing Sky, Colorado Springs, CO 80911 · 4bd/4ba · $452,000
List Price
$452,000
Assumable Rate
2.9%
Remaining Balance
$243,168
Equity Gap
$208,832
Loan Type
VAAdjust Your Scenario
$22,600
$22,600$208,832
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 5.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,714/moAssumable @ 2.9% + gap loan
$2,444/moAssumed loan: $1,012/mo
Gap financing: $1,432/mo
$270less per month with the assumable
Your Savings on This Property
6351 Passing Sky, Colorado Springs · 2.9% VA vs 6.5% conventional
$270
per month
$3,240
per year
$97,200
over 30 years
$97,200
interest saved
How gap financing works: The equity gap ($208,832) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,600, 5% of purchase price) and a second mortgage for the rest ($186,232 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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