Loan Comparison: 3.7% vs 6.5%
5090 Weaver, Colorado Springs, CO 80922 · 3bd/3ba · $440,000
List Price
$440,000
Assumable Rate
3.7%
Remaining Balance
$225,127
Equity Gap
$214,873
Loan Type
VAAdjust Your Scenario
$22,000
$22,000$214,873
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.7% (VA)
Blended Rate: 5.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 3.7% + gap loan
$2,519/moAssumed loan: $1,036/mo
Gap financing: $1,483/mo
$123less per month with the assumable
Your Savings on This Property
5090 Weaver, Colorado Springs · 3.7% VA vs 6.5% conventional
$123
per month
$1,474
per year
$44,207
over 30 years
$44,207
interest saved
How gap financing works: The equity gap ($214,873) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($192,873 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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