Loan Comparison: 4.98% vs 6.5%
3641 Tail Wind, Colorado Springs, CO 80911 · 4bd/3ba · $459,900
List Price
$459,900
Assumable Rate
4.98%
Remaining Balance
$394,386
Equity Gap
$64,904
Loan Type
VAAdjust Your Scenario
$22,995
$22,995$64,904
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (VA)
Blended Rate: 5.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 4.98% + gap loan
$2,435/moAssumed loan: $2,112/mo
Gap financing: $322/mo
$327less per month with the assumable
Your Savings on This Property
3641 Tail Wind, Colorado Springs · 4.98% VA vs 6.5% conventional
$327
per month
$3,924
per year
$117,706
over 30 years
$117,096
interest saved
How gap financing works: The equity gap ($64,904) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,995, 5% of purchase price) and a second mortgage for the rest ($41,909 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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