Loan Comparison: 2.68% vs 6.5%
10447 Kalama, Colorado Springs, CO 80925 · 3bd/3ba · $399,900
List Price
$399,900
Assumable Rate
2.68%
Remaining Balance
$291,971
Equity Gap
$107,929
Loan Type
VAAdjust Your Scenario
$19,995
$19,995$107,929
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 4.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,401/moAssumable @ 2.68% + gap loan
$1,857/moAssumed loan: $1,181/mo
Gap financing: $676/mo
$544less per month with the assumable
Your Savings on This Property
10447 Kalama, Colorado Springs · 2.68% VA vs 6.5% conventional
$544
per month
$6,528
per year
$195,831
over 30 years
$195,831
interest saved
How gap financing works: The equity gap ($107,929) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,995, 5% of purchase price) and a second mortgage for the rest ($87,934 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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