Loan Comparison: 4% vs 6.5%
800 Main, Colorado Springs, CO 80911 · 3bd/2ba · $339,900
List Price
$339,900
Assumable Rate
4%
Remaining Balance
$109,817
Equity Gap
$229,437
Loan Type
VAAdjust Your Scenario
$16,995
$16,995$229,437
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (VA)
Blended Rate: 6.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,041/moAssumable @ 4% + gap loan
$2,158/moAssumed loan: $524/mo
Gap financing: $1,633/mo
Your Savings on This Property
800 Main, Colorado Springs · 4% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($229,437) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,995, 5% of purchase price) and a second mortgage for the rest ($212,442 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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