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
$538,774
Equity Gap
$31,225
Loan Type
VAAdjust Your Scenario
$28,500
$28,500$31,225
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
$2,907/moAssumed loan: $2,886/mo
Gap financing: $21/mo
$516less per month with the assumable
Your Savings on This Property
7296 Alpine Daisy, Colorado Springs · 4.98% VA vs 6.5% conventional
$516
per month
$6,192
per year
$185,768
over 30 years
$185,767
interest saved
How gap financing works: The equity gap ($31,225) 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 ($2,725 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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