Loan Comparison: 3.16% vs 6.5%
4304 Hunting Meadows, Colorado Springs, CO 80916 · 3bd/3ba · $235,000
List Price
$235,000
Assumable Rate
3.16%
Remaining Balance
$166,412
Equity Gap
$67,456
Loan Type
VAAdjust Your Scenario
$11,750
$11,750$67,456
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,411/moAssumable @ 3.16% + gap loan
$1,144/moAssumed loan: $716/mo
Gap financing: $428/mo
$267less per month with the assumable
Your Savings on This Property
4304 Hunting Meadows, Colorado Springs · 3.16% VA vs 6.5% conventional
$267
per month
$3,201
per year
$96,019
over 30 years
$94,887
interest saved
How gap financing works: The equity gap ($67,456) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,750, 5% of purchase price) and a second mortgage for the rest ($55,706 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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