Loan Comparison: 3.35% vs 6.5%
7664 Renegade Hill, Colorado Springs, CO 80923 · 5bd/4ba · $629,990
List Price
$629,990
Assumable Rate
3.35%
Remaining Balance
$213,270
Equity Gap
$415,934
Loan Type
VAAdjust Your Scenario
$31,500
$31,500$415,934
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.35% (VA)
Blended Rate: 6.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,783/moAssumable @ 3.35% + gap loan
$3,896/moAssumed loan: $940/mo
Gap financing: $2,956/mo
Your Savings on This Property
7664 Renegade Hill, Colorado Springs · 3.35% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($415,934) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,500, 5% of purchase price) and a second mortgage for the rest ($384,434 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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