Loan Comparison: 3.16% vs 6.5%
9306 Arklow, Colorado Springs, CO 80927 · 4bd/4ba · $435,000
List Price
$435,000
Assumable Rate
3.16%
Remaining Balance
$335,761
Equity Gap
$98,479
Loan Type
VAAdjust Your Scenario
$21,750
$21,750$98,479
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 3.16% + gap loan
$2,035/moAssumed loan: $1,445/mo
Gap financing: $590/mo
$577less per month with the assumable
Your Savings on This Property
9306 Arklow, Colorado Springs · 3.16% VA vs 6.5% conventional
$577
per month
$6,928
per year
$207,836
over 30 years
$207,076
interest saved
How gap financing works: The equity gap ($98,479) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,750, 5% of purchase price) and a second mortgage for the rest ($76,729 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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