Loan Comparison: 3.31% vs 6.5%
4310 Begonia, Colorado Springs, CO 80920 · 5bd/4ba · $595,000
List Price
$595,000
Assumable Rate
3.31%
Remaining Balance
$324,701
Equity Gap
$271,752
Loan Type
VAAdjust Your Scenario
$29,750
$29,750$271,752
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (VA)
Blended Rate: 5.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,573/moAssumable @ 3.31% + gap loan
$3,285/moAssumed loan: $1,424/mo
Gap financing: $1,861/mo
$288less per month with the assumable
Your Savings on This Property
4310 Begonia, Colorado Springs · 3.31% VA vs 6.5% conventional
$288
per month
$3,458
per year
$103,732
over 30 years
$105,185
interest saved
How gap financing works: The equity gap ($271,752) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,750, 5% of purchase price) and a second mortgage for the rest ($242,002 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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