Loan Comparison: 3.24% vs 6.5%
4107 Shelley, Colorado Springs, CO 80910 · 5bd/2ba · $395,000
List Price
$395,000
Assumable Rate
3.24%
Remaining Balance
$127,364
Equity Gap
$274,398
Loan Type
VAAdjust Your Scenario
$19,750
$19,750$274,398
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.24% (VA)
Blended Rate: 6.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 3.24% + gap loan
$2,512/moAssumed loan: $554/mo
Gap financing: $1,958/mo
Your Savings on This Property
4107 Shelley, Colorado Springs · 3.24% 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 ($274,398) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($254,648 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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