Loan Comparison: 2.77% vs 6.5%
7763 Buckeye Tree, Colorado Springs, CO 80927 · 4bd/3ba · $515,000
List Price
$515,000
Assumable Rate
2.77%
Remaining Balance
$366,406
Equity Gap
$150,301
Loan Type
VAAdjust Your Scenario
$25,750
$25,750$150,301
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 2.77% + gap loan
$2,457/moAssumed loan: $1,500/mo
Gap financing: $958/mo
$635less per month with the assumable
Your Savings on This Property
7763 Buckeye Tree, Colorado Springs · 2.77% VA vs 6.5% conventional
$635
per month
$7,620
per year
$228,600
over 30 years
$230,307
interest saved
How gap financing works: The equity gap ($150,301) 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 ($124,551 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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