Loan Comparison: 3.62% vs 6.5%
2510 Black Diamond, Colorado Springs, CO 80918 · 4bd/3ba · $450,000
List Price
$450,000
Assumable Rate
3.62%
Remaining Balance
$318,432
Equity Gap
$132,954
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$132,954
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (VA)
Blended Rate: 4.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.62% + gap loan
$2,301/moAssumed loan: $1,451/mo
Gap financing: $849/mo
$401less per month with the assumable
Your Savings on This Property
2510 Black Diamond, Colorado Springs · 3.62% VA vs 6.5% conventional
$401
per month
$4,818
per year
$144,532
over 30 years
$145,918
interest saved
How gap financing works: The equity gap ($132,954) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($110,454 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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