Loan Comparison: 3.61% vs 6.5%
8287 Loganberry, Colorado Springs, CO 80927 · 4bd/4ba · $525,000
List Price
$525,000
Assumable Rate
3.61%
Remaining Balance
$255,127
Equity Gap
$268,443
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$268,443
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (VA)
Blended Rate: 5.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 3.61% + gap loan
$3,024/moAssumed loan: $1,161/mo
Gap financing: $1,862/mo
$129less per month with the assumable
Your Savings on This Property
8287 Loganberry, Colorado Springs · 3.61% VA vs 6.5% conventional
$129
per month
$1,546
per year
$46,378
over 30 years
$44,948
interest saved
How gap financing works: The equity gap ($268,443) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($242,193 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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