Loan Comparison: 2.76% vs 6.5%
12644 Highland Oaks, Colorado Springs, CO 80921 · 6bd/5ba · $925,000
List Price
$925,000
Assumable Rate
2.76%
Remaining Balance
$560,864
Equity Gap
$365,389
Loan Type
VAAdjust Your Scenario
$46,250
$46,250$365,389
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.76% (VA)
Blended Rate: 4.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,554/moAssumable @ 2.76% + gap loan
$4,747/moAssumed loan: $2,293/mo
Gap financing: $2,454/mo
$808less per month with the assumable
Your Savings on This Property
12644 Highland Oaks, Colorado Springs · 2.76% VA vs 6.5% conventional
$808
per month
$9,693
per year
$290,788
over 30 years
$292,041
interest saved
How gap financing works: The equity gap ($365,389) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($46,250, 5% of purchase price) and a second mortgage for the rest ($319,139 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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