Loan Comparison: 2.76% vs 6.5%
12644 Highland Oaks, Colorado Springs, CO 80921 · 6bd/5ba · $910,000
List Price
$910,000
Assumable Rate
2.76%
Remaining Balance
$557,094
Equity Gap
$350,389
Loan Type
VAAdjust Your Scenario
$45,500
$45,500$350,389
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.76% (VA)
Blended Rate: 4.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,464/moAssumable @ 2.76% + gap loan
$4,622/moAssumed loan: $2,277/mo
Gap financing: $2,344/mo
$843less per month with the assumable
Your Savings on This Property
12644 Highland Oaks, Colorado Springs · 2.76% VA vs 6.5% conventional
$843
per month
$10,112
per year
$303,356
over 30 years
$300,839
interest saved
How gap financing works: The equity gap ($350,389) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($45,500, 5% of purchase price) and a second mortgage for the rest ($304,889 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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