Loan Comparison: 3.23% vs 6.5%
1410 Auburn, Colorado Springs, CO 80909 · 4bd/3ba · $450,000
List Price
$450,000
Assumable Rate
3.23%
Remaining Balance
$305,091
Equity Gap
$144,909
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$144,909
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 4.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.23% + gap loan
$2,266/moAssumed loan: $1,324/mo
Gap financing: $941/mo
$436less per month with the assumable
Your Savings on This Property
1410 Auburn, Colorado Springs · 3.23% VA vs 6.5% conventional
$436
per month
$5,237
per year
$157,119
over 30 years
$157,119
interest saved
How gap financing works: The equity gap ($144,909) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($122,409 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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