Loan Comparison: 2.83% vs 6.5%
396 Caprice, Colorado Springs, CO 80921 · 4bd/3ba · $625,000
List Price
$625,000
Assumable Rate
2.83%
Remaining Balance
$399,377
Equity Gap
$625,000
Loan Type
VAAdjust Your Scenario
$31,250
$31,250$625,000
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 6.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 2.83% + gap loan
$6,213/moAssumed loan: $1,647/mo
Gap financing: $4,565/mo
Your Savings on This Property
396 Caprice, Colorado Springs · 2.83% 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 ($625,000) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($593,750 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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