Loan Comparison: 2.77% vs 6.5%
14560 River Oaks, Colorado Springs, CO 80921 · 4bd/3ba · $850,000
List Price
$850,000
Assumable Rate
2.77%
Remaining Balance
$499,315
Equity Gap
$352,906
Loan Type
VAAdjust Your Scenario
$42,500
$42,500$352,906
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,104/moAssumable @ 2.77% + gap loan
$4,430/moAssumed loan: $2,044/mo
Gap financing: $2,387/mo
$673less per month with the assumable
Your Savings on This Property
14560 River Oaks, Colorado Springs · 2.77% VA vs 6.5% conventional
$673
per month
$8,082
per year
$242,457
over 30 years
$244,678
interest saved
How gap financing works: The equity gap ($352,906) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,500, 5% of purchase price) and a second mortgage for the rest ($310,406 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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