Loan Comparison: 3.23% vs 6.5%
1358 Celtic, Colorado Springs, CO 80910 · 5bd/3ba · $534,900
List Price
$534,900
Assumable Rate
3.23%
Remaining Balance
$321,109
Equity Gap
$213,071
Loan Type
VAAdjust Your Scenario
$26,745
$26,745$213,071
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 5.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,212/moAssumable @ 3.23% + gap loan
$2,827/moAssumed loan: $1,394/mo
Gap financing: $1,433/mo
$385less per month with the assumable
Your Savings on This Property
1358 Celtic, Colorado Springs · 3.23% VA vs 6.5% conventional
$385
per month
$4,623
per year
$138,685
over 30 years
$137,965
interest saved
How gap financing works: The equity gap ($213,071) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,745, 5% of purchase price) and a second mortgage for the rest ($186,326 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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