Loan Comparison: 2.94% vs 6.5%
26 Hutton, Colorado Springs, CO 80906 · 5bd/6ba · $2,150,000
List Price
$2,150,000
Assumable Rate
2.94%
Remaining Balance
$684,653
Equity Gap
$1,465,346
Loan Type
VAAdjust Your Scenario
$107,500
$107,500$1,465,346
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 6.64%
Monthly Payment Comparison
New Conventional @ 6.5%
$12,910/moAssumable @ 2.94% + gap loan
$13,305/moAssumed loan: $2,864/mo
Gap financing: $10,441/mo
Your Savings on This Property
26 Hutton, Colorado Springs · 2.94% 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 ($1,465,346) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($107,500, 5% of purchase price) and a second mortgage for the rest ($1,357,846 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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