Loan Comparison: 3.23% vs 6.5%
1877 Dewhirst, Colorado Springs, CO 80951 · 5bd/4ba · $515,000
List Price
$515,000
Assumable Rate
3.23%
Remaining Balance
$243,526
Equity Gap
$271,473
Loan Type
VAAdjust Your Scenario
$25,750
$25,750$271,473
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 5.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 3.23% + gap loan
$2,947/moAssumed loan: $1,057/mo
Gap financing: $1,889/mo
$146less per month with the assumable
Your Savings on This Property
1877 Dewhirst, Colorado Springs · 3.23% VA vs 6.5% conventional
$146
per month
$1,750
per year
$52,497
over 30 years
$52,496
interest saved
How gap financing works: The equity gap ($271,473) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($245,723 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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