Loan Comparison: 3.23% vs 6.5%
6802 Loftwood, Colorado Springs, CO 80908 · 5bd/4ba · $600,000
List Price
$600,000
Assumable Rate
3.23%
Remaining Balance
$529,870
Equity Gap
$219,266
Loan Type
VAAdjust Your Scenario
$30,000
$30,000$219,266
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 4.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 3.23% + gap loan
$3,756/moAssumed loan: $2,300/mo
Gap financing: $1,455/mo
Your Savings on This Property
6802 Loftwood, Colorado Springs · 3.23% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$94,157
interest saved
How gap financing works: The equity gap ($219,266) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,000, 5% of purchase price) and a second mortgage for the rest ($189,266 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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