Loan Comparison: 4.98% vs 6.5%
7296 Alpine Daisy, Colorado Springs, CO 80925 · 5bd/3ba · $570,000
List Price
$570,000
Assumable Rate
4.98%
Remaining Balance
$537,942
Equity Gap
$32,058
Loan Type
VAAdjust Your Scenario
$28,500
$28,500$32,058
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (VA)
Blended Rate: 5.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,423/moAssumable @ 4.98% + gap loan
$2,909/moAssumed loan: $2,881/mo
Gap financing: $27/mo
$514less per month with the assumable
Your Savings on This Property
7296 Alpine Daisy, Colorado Springs · 4.98% VA vs 6.5% conventional
$514
per month
$6,169
per year
$185,066
over 30 years
$185,066
interest saved
How gap financing works: The equity gap ($32,058) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,500, 5% of purchase price) and a second mortgage for the rest ($3,558 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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