Loan Comparison: 2.68% vs 6.5%
180 Cobblestone, Colorado Springs, CO 80906 · 3bd/2ba · $449,900
List Price
$449,900
Assumable Rate
2.68%
Remaining Balance
$357,602
Equity Gap
$93,136
Loan Type
VAAdjust Your Scenario
$22,495
$22,495$93,136
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 3.64%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,701/moAssumable @ 2.68% + gap loan
$1,990/moAssumed loan: $1,447/mo
Gap financing: $543/mo
$712less per month with the assumable
Your Savings on This Property
180 Cobblestone, Colorado Springs · 2.68% VA vs 6.5% conventional
$712
per month
$8,540
per year
$256,201
over 30 years
$257,039
interest saved
How gap financing works: The equity gap ($93,136) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,495, 5% of purchase price) and a second mortgage for the rest ($70,641 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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