Loan Comparison: 5.48% vs 6.5%
536 Warren, Colorado Springs, CO 80905 · 2bd/1ba · $290,000
List Price
$290,000
Assumable Rate
5.48%
Remaining Balance
$46,971
Equity Gap
$242,584
Loan Type
VAAdjust Your Scenario
$14,500
$14,500$242,584
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.48% (VA)
Blended Rate: 7.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,741/moAssumable @ 5.48% + gap loan
$2,020/moAssumed loan: $266/mo
Gap financing: $1,754/mo
Your Savings on This Property
536 Warren, Colorado Springs · 5.48% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($242,584) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,500, 5% of purchase price) and a second mortgage for the rest ($228,084 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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