Loan Comparison: 5.81% vs 6.5%
4656 Katahdin, Colorado Springs, CO 80911 · 4bd/4ba · $550,000
List Price
$550,000
Assumable Rate
5.81%
Remaining Balance
$513,783
Equity Gap
$36,217
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$36,217
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.81% (VA)
Blended Rate: 5.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 5.81% + gap loan
$3,085/moAssumed loan: $3,018/mo
Gap financing: $67/mo
$218less per month with the assumable
Your Savings on This Property
4656 Katahdin, Colorado Springs · 5.81% VA vs 6.5% conventional
$218
per month
$2,611
per year
$78,343
over 30 years
$78,343
interest saved
How gap financing works: The equity gap ($36,217) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($8,717 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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