Loan Comparison: 2.77% vs 6.5%
3440 Hill, Colorado Springs, CO 80904 · 4bd/4ba · $2,200,000
List Price
$2,200,000
Assumable Rate
2.77%
Remaining Balance
$606,064
Equity Gap
$1,593,935
Loan Type
VAAdjust Your Scenario
$110,000
$110,000$1,593,935
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 6.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$13,210/moAssumable @ 2.77% + gap loan
$13,891/moAssumed loan: $2,481/mo
Gap financing: $11,410/mo
Your Savings on This Property
3440 Hill, Colorado Springs · 2.77% 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 ($1,593,935) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($110,000, 5% of purchase price) and a second mortgage for the rest ($1,483,935 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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