Loan Comparison: 3.07% vs 6.5%
9752 Wando, Colorado Springs, CO 80925 · 4bd/3ba · $459,900
List Price
$459,900
Assumable Rate
3.07%
Remaining Balance
$424,427
Equity Gap
$35,472
Loan Type
VAAdjust Your Scenario
$22,995
$22,995$35,472
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 3.07% + gap loan
$1,901/moAssumed loan: $1,805/mo
Gap financing: $96/mo
$860less per month with the assumable
Your Savings on This Property
9752 Wando, Colorado Springs · 3.07% VA vs 6.5% conventional
$860
per month
$10,322
per year
$309,649
over 30 years
$309,648
interest saved
How gap financing works: The equity gap ($35,472) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,995, 5% of purchase price) and a second mortgage for the rest ($12,477 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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