Loan Comparison: 3.76% vs 6.5%
4068 Ascendant, Colorado Springs, CO 80922 · 5bd/4ba · $590,000
List Price
$590,000
Assumable Rate
3.76%
Remaining Balance
$402,246
Equity Gap
$187,754
Loan Type
VAAdjust Your Scenario
$29,500
$29,500$187,754
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (VA)
Blended Rate: 5.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,543/moAssumable @ 3.76% + gap loan
$3,082/moAssumed loan: $1,865/mo
Gap financing: $1,217/mo
$461less per month with the assumable
Your Savings on This Property
4068 Ascendant, Colorado Springs · 3.76% VA vs 6.5% conventional
$461
per month
$5,529
per year
$165,873
over 30 years
$165,873
interest saved
How gap financing works: The equity gap ($187,754) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,500, 5% of purchase price) and a second mortgage for the rest ($158,254 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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