Loan Comparison: 3.31% vs 6.5%
2435 Yorktown, Colorado Springs, CO 80907 · 3bd/1ba · $375,000
List Price
$375,000
Assumable Rate
3.31%
Remaining Balance
$209,183
Equity Gap
$166,747
Loan Type
VAAdjust Your Scenario
$18,750
$18,750$166,747
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (VA)
Blended Rate: 5.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 3.31% + gap loan
$2,055/moAssumed loan: $917/mo
Gap financing: $1,138/mo
$196less per month with the assumable
Your Savings on This Property
2435 Yorktown, Colorado Springs · 3.31% VA vs 6.5% conventional
$196
per month
$2,358
per year
$70,738
over 30 years
$71,668
interest saved
How gap financing works: The equity gap ($166,747) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($147,997 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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