Loan Comparison: 4.99% vs 6.5%
16915 Cherry Crossing, Colorado Springs, CO 80921 · 6bd/4ba · $1,190,000
List Price
$1,190,000
Assumable Rate
4.99%
Remaining Balance
$805,063
Equity Gap
$383,707
Loan Type
VAAdjust Your Scenario
$59,500
$59,500$383,707
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.99% (VA)
Blended Rate: 6.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,146/moAssumable @ 4.99% + gap loan
$6,810/moAssumed loan: $4,317/mo
Gap financing: $2,493/mo
$336less per month with the assumable
Your Savings on This Property
16915 Cherry Crossing, Colorado Springs · 4.99% VA vs 6.5% conventional
$336
per month
$4,030
per year
$120,897
over 30 years
$119,667
interest saved
How gap financing works: The equity gap ($383,707) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($59,500, 5% of purchase price) and a second mortgage for the rest ($324,207 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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