Loan Comparison: 3.35% vs 6.5%
19679 Glen Shadows, Colorado Springs, CO 80908 · 5bd/5ba · $1,225,000
List Price
$1,225,000
Assumable Rate
3.35%
Remaining Balance
$814,323
Equity Gap
$407,057
Loan Type
VAAdjust Your Scenario
$61,250
$61,250$407,057
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.35% (VA)
Blended Rate: 4.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,356/moAssumable @ 3.35% + gap loan
$6,248/moAssumed loan: $3,589/mo
Gap financing: $2,659/mo
$1,108less per month with the assumable
Your Savings on This Property
19679 Glen Shadows, Colorado Springs · 3.35% VA vs 6.5% conventional
$1,108
per month
$13,295
per year
$398,845
over 30 years
$395,225
interest saved
How gap financing works: The equity gap ($407,057) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($61,250, 5% of purchase price) and a second mortgage for the rest ($345,807 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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