Loan Comparison: 3.61% vs 6.5%
9808 Wando, Colorado Springs, CO 80925 · 4bd/3ba · $499,000
List Price
$499,000
Assumable Rate
3.61%
Remaining Balance
$264,322
Equity Gap
$234,677
Loan Type
VAAdjust Your Scenario
$24,950
$24,950$234,677
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (VA)
Blended Rate: 5.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 3.61% + gap loan
$2,816/moAssumed loan: $1,203/mo
Gap financing: $1,613/mo
$180less per month with the assumable
Your Savings on This Property
9808 Wando, Colorado Springs · 3.61% VA vs 6.5% conventional
$180
per month
$2,166
per year
$64,975
over 30 years
$64,974
interest saved
How gap financing works: The equity gap ($234,677) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($209,727 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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