Loan Comparison: 3.76% vs 6.5%
2614 Equine, Colorado Springs, CO 80922 · 5bd/4ba · $575,000
List Price
$575,000
Assumable Rate
3.76%
Remaining Balance
$523,941
Equity Gap
$52,037
Loan Type
VAAdjust Your Scenario
$28,750
$28,750$52,037
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (VA)
Blended Rate: 3.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 3.76% + gap loan
$2,608/moAssumed loan: $2,429/mo
Gap financing: $179/mo
$844less per month with the assumable
Your Savings on This Property
2614 Equine, Colorado Springs · 3.76% VA vs 6.5% conventional
$844
per month
$10,130
per year
$303,908
over 30 years
$304,886
interest saved
How gap financing works: The equity gap ($52,037) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($23,287 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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