Loan Comparison: 4.25% vs 6.5%
2635 Fredricksburg, Colorado Springs, CO 80922 · 4bd/3ba · $404,500
List Price
$404,500
Assumable Rate
4.25%
Remaining Balance
$237,776
Equity Gap
$421,240
Loan Type
VAAdjust Your Scenario
$20,225
$20,225$421,240
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.25% (VA)
Blended Rate: 6.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,429/moAssumable @ 4.25% + gap loan
$4,253/moAssumed loan: $1,170/mo
Gap financing: $3,083/mo
Your Savings on This Property
2635 Fredricksburg, Colorado Springs · 4.25% 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 ($421,240) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,225, 5% of purchase price) and a second mortgage for the rest ($401,015 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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