Loan Comparison: 3.45% vs 6.5%
3927 Whittier, Colorado Springs, CO 80910 · 3bd/2ba · $360,000
List Price
$360,000
Assumable Rate
3.45%
Remaining Balance
$334,949
Equity Gap
$25,051
Loan Type
VAAdjust Your Scenario
$18,000
$18,000$25,051
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 3.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,162/moAssumable @ 3.45% + gap loan
$1,549/moAssumed loan: $1,495/mo
Gap financing: $54/mo
$613less per month with the assumable
Your Savings on This Property
3927 Whittier, Colorado Springs · 3.45% VA vs 6.5% conventional
$613
per month
$7,353
per year
$220,579
over 30 years
$220,579
interest saved
How gap financing works: The equity gap ($25,051) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,000, 5% of purchase price) and a second mortgage for the rest ($7,051 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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