Loan Comparison: 3.23% vs 6.5%
1410 Auburn, Colorado Springs, CO 80909 · 4bd/3ba · $440,000
List Price
$440,000
Assumable Rate
3.23%
Remaining Balance
$304,406
Equity Gap
$133,543
Loan Type
VAAdjust Your Scenario
$22,000
$22,000$133,543
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 4.64%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 3.23% + gap loan
$2,179/moAssumed loan: $1,321/mo
Gap financing: $858/mo
$463less per month with the assumable
Your Savings on This Property
1410 Auburn, Colorado Springs · 3.23% VA vs 6.5% conventional
$463
per month
$5,555
per year
$166,651
over 30 years
$164,600
interest saved
How gap financing works: The equity gap ($133,543) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($111,543 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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