Loan Comparison: 4.27% vs 6.5%
7465 Bonterra, Colorado Springs, CO 80925 · 4bd/3ba · $467,000
List Price
$467,000
Assumable Rate
4.27%
Remaining Balance
$289,354
Equity Gap
$177,030
Loan Type
VAAdjust Your Scenario
$23,350
$23,350$177,030
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.27% (VA)
Blended Rate: 5.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,804/moAssumable @ 4.27% + gap loan
$2,609/moAssumed loan: $1,427/mo
Gap financing: $1,182/mo
$196less per month with the assumable
Your Savings on This Property
7465 Bonterra, Colorado Springs · 4.27% VA vs 6.5% conventional
$196
per month
$2,348
per year
$70,440
over 30 years
$69,824
interest saved
How gap financing works: The equity gap ($177,030) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,350, 5% of purchase price) and a second mortgage for the rest ($153,680 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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