Loan Comparison: 2.83% vs 6.5%
1013 Arcadia, Colorado Springs, CO 80903 · 2bd/1ba · $430,000
List Price
$430,000
Assumable Rate
2.83%
Remaining Balance
$210,443
Equity Gap
$219,063
Loan Type
VAAdjust Your Scenario
$21,500
$21,500$219,063
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 5.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 2.83% + gap loan
$2,387/moAssumed loan: $868/mo
Gap financing: $1,519/mo
$195less per month with the assumable
Your Savings on This Property
1013 Arcadia, Colorado Springs · 2.83% VA vs 6.5% conventional
$195
per month
$2,338
per year
$70,146
over 30 years
$69,652
interest saved
How gap financing works: The equity gap ($219,063) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,500, 5% of purchase price) and a second mortgage for the rest ($197,563 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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