Loan Comparison: 2.84% vs 6.5%
6302 Bearcat, Colorado Springs, CO 80925 · 3bd/3ba · $509,000
List Price
$509,000
Assumable Rate
2.84%
Remaining Balance
$168,302
Equity Gap
$340,698
Loan Type
VAAdjust Your Scenario
$25,450
$25,450$340,698
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 6.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,056/moAssumable @ 2.84% + gap loan
$3,119/moAssumed loan: $695/mo
Gap financing: $2,424/mo
Your Savings on This Property
6302 Bearcat, Colorado Springs · 2.84% 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 ($340,698) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,450, 5% of purchase price) and a second mortgage for the rest ($315,248 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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