Loan Comparison: 4.98% vs 6.5%
7296 Alpine Daisy, Colorado Springs, CO 80925 · 5bd/3ba · $575,000
List Price
$575,000
Assumable Rate
4.98%
Remaining Balance
$540,429
Equity Gap
$35,396
Loan Type
VAAdjust Your Scenario
$28,750
$28,750$35,396
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (VA)
Blended Rate: 5.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 4.98% + gap loan
$2,946/moAssumed loan: $2,895/mo
Gap financing: $51/mo
$507less per month with the assumable
Your Savings on This Property
7296 Alpine Daisy, Colorado Springs · 4.98% VA vs 6.5% conventional
$507
per month
$6,084
per year
$182,532
over 30 years
$183,357
interest saved
How gap financing works: The equity gap ($35,396) 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 ($6,646 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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