Loan Comparison: 3.35% vs 6.5%
3258 Red Cavern, Colorado Springs, CO 80908 · 6bd/4ba · $715,000
List Price
$715,000
Assumable Rate
3.35%
Remaining Balance
$548,110
Equity Gap
$207,508
Loan Type
VAAdjust Your Scenario
$35,750
$35,750$207,508
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.35% (VA)
Blended Rate: 4.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,293/moAssumable @ 3.35% + gap loan
$3,736/moAssumed loan: $2,416/mo
Gap financing: $1,321/mo
$557less per month with the assumable
Your Savings on This Property
3258 Red Cavern, Colorado Springs · 3.35% VA vs 6.5% conventional
$557
per month
$6,685
per year
$200,540
over 30 years
$241,158
interest saved
How gap financing works: The equity gap ($207,508) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,750, 5% of purchase price) and a second mortgage for the rest ($171,758 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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