Loan Comparison: 3.06% vs 6.5%
7246 Dutch, Colorado Springs, CO 80925 · 4bd/4ba · $520,000
List Price
$520,000
Assumable Rate
3.06%
Remaining Balance
$253,798
Equity Gap
$266,202
Loan Type
VAAdjust Your Scenario
$26,000
$26,000$266,202
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 5.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 3.06% + gap loan
$2,925/moAssumed loan: $1,078/mo
Gap financing: $1,847/mo
$197less per month with the assumable
Your Savings on This Property
7246 Dutch, Colorado Springs · 3.06% VA vs 6.5% conventional
$197
per month
$2,367
per year
$70,998
over 30 years
$70,998
interest saved
How gap financing works: The equity gap ($266,202) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($240,202 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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