Loan Comparison: 2.48% vs 6.5%
1249 Marsh Hawk, Colorado Springs, CO 80911 · 4bd/3ba · $380,000
List Price
$380,000
Assumable Rate
2.48%
Remaining Balance
$262,749
Equity Gap
$186,551
Loan Type
VAAdjust Your Scenario
$19,000
$19,000$186,551
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.48% (VA)
Blended Rate: 4.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,282/moAssumable @ 2.48% + gap loan
$2,324/moAssumed loan: $1,035/mo
Gap financing: $1,288/mo
Your Savings on This Property
1249 Marsh Hawk, Colorado Springs · 2.48% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$54,179
interest saved
How gap financing works: The equity gap ($186,551) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,000, 5% of purchase price) and a second mortgage for the rest ($167,551 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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