Loan Comparison: 3.81% vs 6.5%
7647 Sailwind, Colorado Springs, CO 80925 · 4bd/2ba · $390,000
List Price
$390,000
Assumable Rate
3.81%
Remaining Balance
$190,800
Equity Gap
$200,137
Loan Type
VAAdjust Your Scenario
$19,500
$19,500$200,137
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.81% (VA)
Blended Rate: 6.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,342/moAssumable @ 3.81% + gap loan
$2,279/moAssumed loan: $890/mo
Gap financing: $1,389/mo
$63less per month with the assumable
Your Savings on This Property
7647 Sailwind, Colorado Springs · 3.81% VA vs 6.5% conventional
$63
per month
$753
per year
$22,585
over 30 years
$23,522
interest saved
How gap financing works: The equity gap ($200,137) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,500, 5% of purchase price) and a second mortgage for the rest ($180,637 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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