Loan Comparison: 3.45% vs 6.5%
6950 Shunka, Colorado Springs, CO 80925 · 4bd/3ba · $449,900
List Price
$449,900
Assumable Rate
3.45%
Remaining Balance
$410,596
Equity Gap
$39,303
Loan Type
VAAdjust Your Scenario
$22,495
$22,495$39,303
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 3.65%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,701/moAssumable @ 3.45% + gap loan
$1,962/moAssumed loan: $1,832/mo
Gap financing: $129/mo
$740less per month with the assumable
Your Savings on This Property
6950 Shunka, Colorado Springs · 3.45% VA vs 6.5% conventional
$740
per month
$8,879
per year
$266,376
over 30 years
$266,375
interest saved
How gap financing works: The equity gap ($39,303) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,495, 5% of purchase price) and a second mortgage for the rest ($16,808 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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