Loan Comparison: 2.95% vs 6.5%
4826 Hawk Meadow, Colorado Springs, CO 80916 · 3bd/3ba · $419,000
List Price
$419,000
Assumable Rate
2.95%
Remaining Balance
$346,839
Equity Gap
$72,930
Loan Type
VAAdjust Your Scenario
$20,950
$20,950$72,930
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.95% (VA)
Blended Rate: 3.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,516/moAssumable @ 2.95% + gap loan
$1,853/moAssumed loan: $1,453/mo
Gap financing: $400/mo
$663less per month with the assumable
Your Savings on This Property
4826 Hawk Meadow, Colorado Springs · 2.95% VA vs 6.5% conventional
$663
per month
$7,960
per year
$238,793
over 30 years
$239,562
interest saved
How gap financing works: The equity gap ($72,930) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,950, 5% of purchase price) and a second mortgage for the rest ($51,980 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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