Loan Comparison: 3.07% vs 6.5%
8465 Longleaf, Colorado Springs, CO 80927 · 3bd/3ba · $535,000
List Price
$535,000
Assumable Rate
3.07%
Remaining Balance
$380,611
Equity Gap
$153,584
Loan Type
VAAdjust Your Scenario
$26,750
$26,750$153,584
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 4.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,212/moAssumable @ 3.07% + gap loan
$2,594/moAssumed loan: $1,619/mo
Gap financing: $975/mo
$618less per month with the assumable
Your Savings on This Property
8465 Longleaf, Colorado Springs · 3.07% VA vs 6.5% conventional
$618
per month
$7,418
per year
$222,540
over 30 years
$221,735
interest saved
How gap financing works: The equity gap ($153,584) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,750, 5% of purchase price) and a second mortgage for the rest ($126,834 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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