Loan Comparison: 2.31% vs 6.5%
1023 Dancing Horse, Colorado Springs, CO 80919 · 4bd/4ba · $535,000
List Price
$535,000
Assumable Rate
2.31%
Remaining Balance
$198,930
Equity Gap
$336,069
Loan Type
VAAdjust Your Scenario
$26,750
$26,750$336,069
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.31% (VA)
Blended Rate: 6.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,212/moAssumable @ 2.31% + gap loan
$3,145/moAssumed loan: $767/mo
Gap financing: $2,378/mo
$68less per month with the assumable
Your Savings on This Property
1023 Dancing Horse, Colorado Springs · 2.31% VA vs 6.5% conventional
$68
per month
$811
per year
$24,331
over 30 years
$24,330
interest saved
How gap financing works: The equity gap ($336,069) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,750, 5% of purchase price) and a second mortgage for the rest ($309,319 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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