Loan Comparison: 3.06% vs 6.5%
7246 Dutch, Colorado Springs, CO 80925 · 4bd/4ba · $515,000
List Price
$515,000
Assumable Rate
3.06%
Remaining Balance
$253,798
Equity Gap
$261,202
Loan Type
VAAdjust Your Scenario
$25,750
$25,750$261,202
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 5.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 3.06% + gap loan
$2,889/moAssumed loan: $1,078/mo
Gap financing: $1,810/mo
$204less per month with the assumable
Your Savings on This Property
7246 Dutch, Colorado Springs · 3.06% VA vs 6.5% conventional
$204
per month
$2,445
per year
$73,338
over 30 years
$73,338
interest saved
How gap financing works: The equity gap ($261,202) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($235,452 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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