Loan Comparison: 2.84% vs 6.5%
2635 Landsdown, Colorado Springs, CO 80919 · 4bd/3ba · $565,000
List Price
$565,000
Assumable Rate
2.84%
Remaining Balance
$415,482
Equity Gap
$152,279
Loan Type
VAAdjust Your Scenario
$28,250
$28,250$152,279
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 4.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 2.84% + gap loan
$2,670/moAssumed loan: $1,716/mo
Gap financing: $954/mo
$723less per month with the assumable
Your Savings on This Property
2635 Landsdown, Colorado Springs · 2.84% VA vs 6.5% conventional
$723
per month
$8,675
per year
$260,247
over 30 years
$263,008
interest saved
How gap financing works: The equity gap ($152,279) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($124,029 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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