Loan Comparison: 2.94% vs 6.5%
305 Hidden Creek, Colorado Springs, CO 80906 · 5bd/5ba · $1,350,000
List Price
$1,350,000
Assumable Rate
2.94%
Remaining Balance
$416,635
Equity Gap
$933,364
Loan Type
VAAdjust Your Scenario
$67,500
$67,500$933,364
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 6.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$8,106/moAssumable @ 2.94% + gap loan
$8,401/moAssumed loan: $1,743/mo
Gap financing: $6,658/mo
Your Savings on This Property
305 Hidden Creek, 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 ($933,364) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($67,500, 5% of purchase price) and a second mortgage for the rest ($865,864 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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