Loan Comparison: 3.81% vs 6.5%
3295 Hollycrest, Colorado Springs, CO 80920 · 5bd/4ba · $650,000
List Price
$650,000
Assumable Rate
3.81%
Remaining Balance
$341,386
Equity Gap
$322,505
Loan Type
VAAdjust Your Scenario
$32,500
$32,500$322,505
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.81% (VA)
Blended Rate: 5.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 3.81% + gap loan
$3,823/moAssumed loan: $1,593/mo
Gap financing: $2,230/mo
$80less per month with the assumable
Your Savings on This Property
3295 Hollycrest, Colorado Springs · 3.81% VA vs 6.5% conventional
$80
per month
$966
per year
$28,971
over 30 years
$42,862
interest saved
How gap financing works: The equity gap ($322,505) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($290,005 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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