Loan Comparison: 5.23% vs 6.5%
4750 Wilde, Colorado Springs, CO 80916 · 4bd/2ba · $385,000
List Price
$385,000
Assumable Rate
5.23%
Remaining Balance
$359,358
Equity Gap
$25,642
Loan Type
VAAdjust Your Scenario
$19,250
$19,250$25,642
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,312/moAssumable @ 5.23% + gap loan
$2,029/moAssumed loan: $1,980/mo
Gap financing: $49/mo
$283less per month with the assumable
Your Savings on This Property
4750 Wilde, Colorado Springs · 5.23% VA vs 6.5% conventional
$283
per month
$3,392
per year
$101,772
over 30 years
$101,772
interest saved
How gap financing works: The equity gap ($25,642) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,250, 5% of purchase price) and a second mortgage for the rest ($6,392 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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