Loan Comparison: 2.18% vs 6.5%
1630 Oakmont, Colorado Springs, CO 80921 · 6bd/5ba · $975,000
List Price
$975,000
Assumable Rate
2.18%
Remaining Balance
$293,540
Equity Gap
$681,459
Loan Type
VAAdjust Your Scenario
$48,750
$48,750$681,459
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.18% (VA)
Blended Rate: 6.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,855/moAssumable @ 2.18% + gap loan
$5,977/moAssumed loan: $1,112/mo
Gap financing: $4,865/mo
Your Savings on This Property
1630 Oakmont, Colorado Springs · 2.18% 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 ($681,459) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($48,750, 5% of purchase price) and a second mortgage for the rest ($632,709 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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