Loan Comparison: 3.47% vs 6.5%
5720 Country Heights, Colorado Springs, CO 80917 · 4bd/3ba · $505,000
List Price
$505,000
Assumable Rate
3.47%
Remaining Balance
$282,575
Equity Gap
$222,424
Loan Type
VAAdjust Your Scenario
$25,250
$25,250$222,424
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (VA)
Blended Rate: 5.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,032/moAssumable @ 3.47% + gap loan
$2,780/moAssumed loan: $1,264/mo
Gap financing: $1,516/mo
$252less per month with the assumable
Your Savings on This Property
5720 Country Heights, Colorado Springs · 3.47% VA vs 6.5% conventional
$252
per month
$3,025
per year
$90,752
over 30 years
$90,751
interest saved
How gap financing works: The equity gap ($222,424) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,250, 5% of purchase price) and a second mortgage for the rest ($197,174 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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