Loan Comparison: 4.48% vs 6.5%
35 Ravenglass, Colorado Springs, CO 80906 · 5bd/3ba · $1,088,000
List Price
$1,088,000
Assumable Rate
4.48%
Remaining Balance
$757,112
Equity Gap
$330,888
Loan Type
VAAdjust Your Scenario
$54,400
$54,400$330,888
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.48% (VA)
Blended Rate: 5.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,533/moAssumable @ 4.48% + gap loan
$5,953/moAssumed loan: $3,827/mo
Gap financing: $2,126/mo
$580less per month with the assumable
Your Savings on This Property
35 Ravenglass, Colorado Springs · 4.48% VA vs 6.5% conventional
$580
per month
$6,959
per year
$208,771
over 30 years
$208,771
interest saved
How gap financing works: The equity gap ($330,888) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($54,400, 5% of purchase price) and a second mortgage for the rest ($276,488 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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