Loan Comparison: 3.45% vs 6.5%
2230 Brent, Colorado Springs, CO 80920 · 3bd/3ba · $529,000
List Price
$529,000
Assumable Rate
3.45%
Remaining Balance
$467,023
Equity Gap
$61,977
Loan Type
VAAdjust Your Scenario
$26,450
$26,450$61,977
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 3.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,176/moAssumable @ 3.45% + gap loan
$2,357/moAssumed loan: $2,084/mo
Gap financing: $273/mo
$819less per month with the assumable
Your Savings on This Property
2230 Brent, Colorado Springs · 3.45% VA vs 6.5% conventional
$819
per month
$9,830
per year
$294,897
over 30 years
$294,897
interest saved
How gap financing works: The equity gap ($61,977) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,450, 5% of purchase price) and a second mortgage for the rest ($35,527 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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