Loan Comparison: 5.23% vs 6.5%
4375 Cassidy, Colorado Springs, CO 80911 · 4bd/2ba · $384,900
List Price
$384,900
Assumable Rate
5.23%
Remaining Balance
$363,552
Equity Gap
$20,813
Loan Type
VAAdjust Your Scenario
$19,245
$19,245$20,813
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,311/moAssumable @ 5.23% + gap loan
$2,015/moAssumed loan: $2,003/mo
Gap financing: $12/mo
$296less per month with the assumable
Your Savings on This Property
4375 Cassidy, Colorado Springs · 5.23% VA vs 6.5% conventional
$296
per month
$3,553
per year
$106,591
over 30 years
$106,056
interest saved
How gap financing works: The equity gap ($20,813) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,245, 5% of purchase price) and a second mortgage for the rest ($1,568 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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