Loan Comparison: 3.77% vs 6.5%
1026 Drury, Colorado Springs, CO 80911 · 5bd/3ba · $410,000
List Price
$410,000
Assumable Rate
3.77%
Remaining Balance
$236,718
Equity Gap
$172,757
Loan Type
VAAdjust Your Scenario
$20,500
$20,500$172,757
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (VA)
Blended Rate: 5.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 3.77% + gap loan
$2,270/moAssumed loan: $1,099/mo
Gap financing: $1,171/mo
$192less per month with the assumable
Your Savings on This Property
1026 Drury, Colorado Springs · 3.77% VA vs 6.5% conventional
$192
per month
$2,307
per year
$69,197
over 30 years
$68,672
interest saved
How gap financing works: The equity gap ($172,757) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,500, 5% of purchase price) and a second mortgage for the rest ($152,257 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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