Loan Comparison: 3.08% vs 6.5%
8374 Ravenel, Colorado Springs, CO 80920 · 4bd/4ba · $515,000
List Price
$515,000
Assumable Rate
3.08%
Remaining Balance
$277,391
Equity Gap
$311,082
Loan Type
VAAdjust Your Scenario
$25,750
$25,750$311,082
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 5.83%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 3.08% + gap loan
$3,375/moAssumed loan: $1,181/mo
Gap financing: $2,194/mo
Your Savings on This Property
8374 Ravenel, Colorado Springs · 3.08% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($311,082) 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 ($285,332 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.
🏠
Back to This Listing
View photos, details, and request a showing for 8374 Ravenel.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.