Loan Comparison: 4.02% vs 6.5%
527 San Miguel, Colorado Springs, CO 80905 · 3bd/1ba · $372,000
List Price
$372,000
Assumable Rate
4.02%
Remaining Balance
$107,327
Equity Gap
$263,665
Loan Type
VAAdjust Your Scenario
$18,600
$18,600$263,665
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.02% (VA)
Blended Rate: 7.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,234/moAssumable @ 4.02% + gap loan
$2,398/moAssumed loan: $514/mo
Gap financing: $1,884/mo
Your Savings on This Property
527 San Miguel, Colorado Springs · 4.02% 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 ($263,665) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,600, 5% of purchase price) and a second mortgage for the rest ($245,065 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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