Loan Comparison: 3.77% vs 6.5%
1026 Drury, Colorado Springs, CO 80911 · 5bd/3ba · $420,000
List Price
$420,000
Assumable Rate
3.77%
Remaining Balance
$238,586
Equity Gap
$182,757
Loan Type
VAAdjust Your Scenario
$21,000
$21,000$182,757
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (VA)
Blended Rate: 5.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 3.77% + gap loan
$2,351/moAssumed loan: $1,108/mo
Gap financing: $1,244/mo
$171less per month with the assumable
Your Savings on This Property
1026 Drury, Colorado Springs · 3.77% VA vs 6.5% conventional
$171
per month
$2,046
per year
$61,395
over 30 years
$62,738
interest saved
How gap financing works: The equity gap ($182,757) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($161,757 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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