Loan Comparison: 2.77% vs 6.5%
3135 Zephyr, Colorado Springs, CO 80920 · 4bd/4ba · $499,900
List Price
$499,900
Assumable Rate
2.77%
Remaining Balance
$333,479
Equity Gap
$237,031
Loan Type
VAAdjust Your Scenario
$24,995
$24,995$237,031
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 5.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 2.77% + gap loan
$2,995/moAssumed loan: $1,365/mo
Gap financing: $1,630/mo
$6less per month with the assumable
Your Savings on This Property
3135 Zephyr, Colorado Springs · 2.77% VA vs 6.5% conventional
$6
per month
$77
per year
$2,310
over 30 years
$72,920
interest saved
How gap financing works: The equity gap ($237,031) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,995, 5% of purchase price) and a second mortgage for the rest ($212,036 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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