Loan Comparison: 3.16% vs 6.5%
2826 Shady, Colorado Springs, CO 80918 · 5bd/3ba · $429,900
List Price
$429,900
Assumable Rate
3.16%
Remaining Balance
$231,870
Equity Gap
$198,030
Loan Type
VAAdjust Your Scenario
$21,495
$21,495$198,030
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 5.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,581/moAssumable @ 3.16% + gap loan
$2,355/moAssumed loan: $998/mo
Gap financing: $1,357/mo
$226less per month with the assumable
Your Savings on This Property
2826 Shady, Colorado Springs · 3.16% VA vs 6.5% conventional
$226
per month
$2,716
per year
$81,468
over 30 years
$81,468
interest saved
How gap financing works: The equity gap ($198,030) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,495, 5% of purchase price) and a second mortgage for the rest ($176,535 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.
🏠
Back to This Listing
View photos, details, and request a showing for 2826 Shady.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.