Loan Comparison: 4.17% vs 6.5%
6812 Alsea, Colorado Springs, CO 80925 · 3bd/4ba · $469,000
List Price
$469,000
Assumable Rate
4.17%
Remaining Balance
$430,135
Equity Gap
$38,865
Loan Type
VAAdjust Your Scenario
$23,450
$23,450$38,865
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (VA)
Blended Rate: 4.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,816/moAssumable @ 4.17% + gap loan
$2,214/moAssumed loan: $2,096/mo
Gap financing: $119/mo
$602less per month with the assumable
Your Savings on This Property
6812 Alsea, Colorado Springs · 4.17% VA vs 6.5% conventional
$602
per month
$7,221
per year
$216,627
over 30 years
$216,627
interest saved
How gap financing works: The equity gap ($38,865) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,450, 5% of purchase price) and a second mortgage for the rest ($15,415 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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