Loan Comparison: 2.97% vs 6.5%
5258 Monarch Crest, Colorado Springs, CO 80924 · 5bd/4ba · $775,000
List Price
$775,000
Assumable Rate
2.97%
Remaining Balance
$320,072
Equity Gap
$455,646
Loan Type
VAAdjust Your Scenario
$38,750
$38,750$455,646
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.97% (VA)
Blended Rate: 6.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,654/moAssumable @ 2.97% + gap loan
$4,550/moAssumed loan: $1,344/mo
Gap financing: $3,206/mo
$104less per month with the assumable
Your Savings on This Property
5258 Monarch Crest, Colorado Springs · 2.97% VA vs 6.5% conventional
$104
per month
$1,245
per year
$37,356
over 30 years
$38,074
interest saved
How gap financing works: The equity gap ($455,646) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,750, 5% of purchase price) and a second mortgage for the rest ($416,896 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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