Loan Comparison: 3.08% vs 6.5%
4642 Cassidy, Colorado Springs, CO 80911 · 3bd/2ba · $375,000
List Price
$375,000
Assumable Rate
3.08%
Remaining Balance
$180,971
Equity Gap
$194,821
Loan Type
VAAdjust Your Scenario
$18,750
$18,750$194,821
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 5.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 3.08% + gap loan
$2,125/moAssumed loan: $771/mo
Gap financing: $1,354/mo
$127less per month with the assumable
Your Savings on This Property
4642 Cassidy, Colorado Springs · 3.08% VA vs 6.5% conventional
$127
per month
$1,525
per year
$45,755
over 30 years
$46,547
interest saved
How gap financing works: The equity gap ($194,821) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($176,071 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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