Loan Comparison: 3.06% vs 6.5%
7320 Julynn, Colorado Springs, CO 80919 · 4bd/4ba · $615,000
List Price
$615,000
Assumable Rate
3.06%
Remaining Balance
$423,251
Equity Gap
$191,748
Loan Type
VAAdjust Your Scenario
$30,750
$30,750$191,748
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 4.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,693/moAssumable @ 3.06% + gap loan
$3,036/moAssumed loan: $1,798/mo
Gap financing: $1,238/mo
$657less per month with the assumable
Your Savings on This Property
7320 Julynn, Colorado Springs · 3.06% VA vs 6.5% conventional
$657
per month
$7,881
per year
$236,431
over 30 years
$236,430
interest saved
How gap financing works: The equity gap ($191,748) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,750, 5% of purchase price) and a second mortgage for the rest ($160,998 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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