Loan Comparison: 4.67% vs 6.5%
3203 Red Cavern, Colorado Springs, CO 80908 · 5bd/4ba · $720,000
List Price
$720,000
Assumable Rate
4.67%
Remaining Balance
$609,997
Equity Gap
$110,002
Loan Type
VAAdjust Your Scenario
$36,000
$36,000$110,002
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.67% (VA)
Blended Rate: 5.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,323/moAssumable @ 4.67% + gap loan
$3,722/moAssumed loan: $3,153/mo
Gap financing: $569/mo
$602less per month with the assumable
Your Savings on This Property
3203 Red Cavern, Colorado Springs · 4.67% VA vs 6.5% conventional
$602
per month
$7,220
per year
$216,594
over 30 years
$216,593
interest saved
How gap financing works: The equity gap ($110,002) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,000, 5% of purchase price) and a second mortgage for the rest ($74,002 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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