Loan Comparison: 2.77% vs 6.5%
9232 Birr, Colorado Springs, CO 80927 · 4bd/3ba · $549,900
List Price
$549,900
Assumable Rate
2.77%
Remaining Balance
$391,277
Equity Gap
$158,623
Loan Type
VAAdjust Your Scenario
$27,495
$27,495$158,623
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,302/moAssumable @ 2.77% + gap loan
$2,610/moAssumed loan: $1,602/mo
Gap financing: $1,008/mo
$692less per month with the assumable
Your Savings on This Property
9232 Birr, Colorado Springs · 2.77% VA vs 6.5% conventional
$692
per month
$8,306
per year
$249,189
over 30 years
$249,189
interest saved
How gap financing works: The equity gap ($158,623) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,495, 5% of purchase price) and a second mortgage for the rest ($131,128 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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