Loan Comparison: 5.7% vs 6.5%
2119 Seaglass, Colorado Springs, CO 80921 · 5bd/5ba · $1,375,000
List Price
$1,375,000
Assumable Rate
5.7%
Remaining Balance
$878,804
Equity Gap
$496,195
Loan Type
VAAdjust Your Scenario
$68,750
$68,750$496,195
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.7% (VA)
Blended Rate: 6.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$8,256/moAssumable @ 5.7% + gap loan
$8,387/moAssumed loan: $5,101/mo
Gap financing: $3,287/mo
Your Savings on This Property
2119 Seaglass, Colorado Springs · 5.7% 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 ($496,195) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($68,750, 5% of purchase price) and a second mortgage for the rest ($427,445 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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