Loan Comparison: 3.16% vs 6.5%
9306 Arklow, Colorado Springs, CO 80927 · 4bd/4ba · $445,000
List Price
$445,000
Assumable Rate
3.16%
Remaining Balance
$336,521
Equity Gap
$108,479
Loan Type
VAAdjust Your Scenario
$22,250
$22,250$108,479
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,672/moAssumable @ 3.16% + gap loan
$2,111/moAssumed loan: $1,448/mo
Gap financing: $663/mo
$561less per month with the assumable
Your Savings on This Property
9306 Arklow, Colorado Springs · 3.16% VA vs 6.5% conventional
$561
per month
$6,733
per year
$201,979
over 30 years
$201,979
interest saved
How gap financing works: The equity gap ($108,479) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,250, 5% of purchase price) and a second mortgage for the rest ($86,229 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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