Loan Comparison: 2.74% vs 6.5%
3345 Kestrel, Colorado Springs, CO 80916 · 4bd/4ba · $447,900
List Price
$447,900
Assumable Rate
2.74%
Remaining Balance
$311,112
Equity Gap
$138,942
Loan Type
VAAdjust Your Scenario
$22,395
$22,395$138,942
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 4.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,689/moAssumable @ 2.74% + gap loan
$2,165/moAssumed loan: $1,268/mo
Gap financing: $896/mo
$525less per month with the assumable
Your Savings on This Property
3345 Kestrel, Colorado Springs · 2.74% VA vs 6.5% conventional
$525
per month
$6,299
per year
$188,962
over 30 years
$191,116
interest saved
How gap financing works: The equity gap ($138,942) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,395, 5% of purchase price) and a second mortgage for the rest ($116,547 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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