Loan Comparison: 3.18% vs 6.5%
17512 Pond View, Colorado Springs, CO 80908 · 5bd/5ba · $1,700,000
List Price
$1,700,000
Assumable Rate
3.18%
Remaining Balance
$706,214
Equity Gap
$996,923
Loan Type
VAAdjust Your Scenario
$85,000
$85,000$996,923
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.18% (VA)
Blended Rate: 6.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$10,208/moAssumable @ 3.18% + gap loan
$10,058/moAssumed loan: $3,046/mo
Gap financing: $7,012/mo
$150less per month with the assumable
Your Savings on This Property
17512 Pond View, Colorado Springs · 3.18% VA vs 6.5% conventional
$150
per month
$1,795
per year
$53,848
over 30 years
$56,985
interest saved
How gap financing works: The equity gap ($996,923) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($85,000, 5% of purchase price) and a second mortgage for the rest ($911,923 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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