Loan Comparison: 3.07% vs 6.5%
8512 Candleflower, Colorado Springs, CO 80920 · 5bd/4ba · $569,900
List Price
$569,900
Assumable Rate
3.07%
Remaining Balance
$282,513
Equity Gap
$287,387
Loan Type
VAAdjust Your Scenario
$28,495
$28,495$287,387
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 5.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,422/moAssumable @ 3.07% + gap loan
$3,192/moAssumed loan: $1,202/mo
Gap financing: $1,991/mo
$230less per month with the assumable
Your Savings on This Property
8512 Candleflower, Colorado Springs · 3.07% VA vs 6.5% conventional
$230
per month
$2,755
per year
$82,661
over 30 years
$82,661
interest saved
How gap financing works: The equity gap ($287,387) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,495, 5% of purchase price) and a second mortgage for the rest ($258,892 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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