Loan Comparison: 3.81% vs 6.5%
3295 Hollycrest, Colorado Springs, CO 80920 · 5bd/4ba · $625,000
List Price
$625,000
Assumable Rate
3.81%
Remaining Balance
$326,682
Equity Gap
$298,318
Loan Type
VAAdjust Your Scenario
$31,250
$31,250$298,318
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.81% (VA)
Blended Rate: 5.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 3.81% + gap loan
$3,578/moAssumed loan: $1,524/mo
Gap financing: $2,054/mo
$175less per month with the assumable
Your Savings on This Property
3295 Hollycrest, Colorado Springs · 3.81% VA vs 6.5% conventional
$175
per month
$2,104
per year
$63,116
over 30 years
$63,116
interest saved
How gap financing works: The equity gap ($298,318) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($267,068 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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