Loan Comparison: 3.34% vs 6.5%
1857 Clayhouse, Colorado Springs, CO 80921 · 5bd/5ba · $1,075,000
List Price
$1,075,000
Assumable Rate
3.34%
Remaining Balance
$598,411
Equity Gap
$476,589
Loan Type
VAAdjust Your Scenario
$53,750
$53,750$476,589
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.34% (VA)
Blended Rate: 5.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,455/moAssumable @ 3.34% + gap loan
$5,885/moAssumed loan: $2,634/mo
Gap financing: $3,251/mo
$570less per month with the assumable
Your Savings on This Property
1857 Clayhouse, Colorado Springs · 3.34% VA vs 6.5% conventional
$570
per month
$6,837
per year
$205,112
over 30 years
$205,112
interest saved
How gap financing works: The equity gap ($476,589) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($53,750, 5% of purchase price) and a second mortgage for the rest ($422,839 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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