Loan Comparison: 2.87% vs 6.5%
2049 Birmingham, Colorado Springs, CO 80910 · 3bd/3ba · $369,900
List Price
$369,900
Assumable Rate
2.87%
Remaining Balance
$335,287
Equity Gap
$33,870
Loan Type
VAAdjust Your Scenario
$18,495
$18,495$33,870
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,221/moAssumable @ 2.87% + gap loan
$1,508/moAssumed loan: $1,390/mo
Gap financing: $118/mo
$713less per month with the assumable
Your Savings on This Property
2049 Birmingham, Colorado Springs · 2.87% VA vs 6.5% conventional
$713
per month
$8,553
per year
$256,577
over 30 years
$255,834
interest saved
How gap financing works: The equity gap ($33,870) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,495, 5% of purchase price) and a second mortgage for the rest ($15,375 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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