Loan Comparison: 2.68% vs 6.5%
8361 Colorado Spruce, Colorado Springs, CO 80927 · 5bd/4ba · $575,000
List Price
$575,000
Assumable Rate
2.68%
Remaining Balance
$419,429
Equity Gap
$153,601
Loan Type
VAAdjust Your Scenario
$28,750
$28,750$153,601
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 4.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 2.68% + gap loan
$2,657/moAssumed loan: $1,697/mo
Gap financing: $960/mo
$796less per month with the assumable
Your Savings on This Property
8361 Colorado Spruce, Colorado Springs · 2.68% VA vs 6.5% conventional
$796
per month
$9,551
per year
$286,526
over 30 years
$284,556
interest saved
How gap financing works: The equity gap ($153,601) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($124,851 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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