Loan Comparison: 4.48% vs 6.5%
35 Ravenglass, Colorado Springs, CO 80906 · 5bd/3ba · $1,067,000
List Price
$1,067,000
Assumable Rate
4.48%
Remaining Balance
$753,322
Equity Gap
$313,677
Loan Type
VAAdjust Your Scenario
$53,350
$53,350$313,677
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.48% (VA)
Blended Rate: 5.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,407/moAssumable @ 4.48% + gap loan
$5,810/moAssumed loan: $3,808/mo
Gap financing: $2,002/mo
$597less per month with the assumable
Your Savings on This Property
35 Ravenglass, Colorado Springs · 4.48% VA vs 6.5% conventional
$597
per month
$7,167
per year
$215,008
over 30 years
$215,007
interest saved
How gap financing works: The equity gap ($313,677) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($53,350, 5% of purchase price) and a second mortgage for the rest ($260,327 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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