Loan Comparison: 3.47% vs 6.5%
5578 Stetson Hills, Colorado Springs, CO 80917 · 2bd/3ba · $324,999
List Price
$324,999
Assumable Rate
3.47%
Remaining Balance
$242,507
Equity Gap
$82,492
Loan Type
VAAdjust Your Scenario
$16,250
$16,250$82,492
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (VA)
Blended Rate: 4.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 3.47% + gap loan
$1,594/moAssumed loan: $1,085/mo
Gap financing: $509/mo
$357less per month with the assumable
Your Savings on This Property
5578 Stetson Hills, Colorado Springs · 3.47% VA vs 6.5% conventional
$357
per month
$4,287
per year
$128,611
over 30 years
$128,611
interest saved
How gap financing works: The equity gap ($82,492) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($66,242 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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