Loan Comparison: 3.45% vs 6.5%
10552 Horton, Colorado Springs, CO 80925 · 4bd/3ba · $485,000
List Price
$485,000
Assumable Rate
3.45%
Remaining Balance
$455,966
Equity Gap
$29,935
Loan Type
VAAdjust Your Scenario
$24,250
$24,250$29,935
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 3.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 3.45% + gap loan
$2,078/moAssumed loan: $2,035/mo
Gap financing: $44/mo
$834less per month with the assumable
Your Savings on This Property
10552 Horton, Colorado Springs · 3.45% VA vs 6.5% conventional
$834
per month
$10,005
per year
$300,152
over 30 years
$301,053
interest saved
How gap financing works: The equity gap ($29,935) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($5,685 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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