Loan Comparison: 3.45% vs 6.5%
6382 Ottawa, Colorado Springs, CO 80924 · 5bd/4ba · $785,000
List Price
$785,000
Assumable Rate
3.45%
Remaining Balance
$537,544
Equity Gap
$247,455
Loan Type
VAAdjust Your Scenario
$39,250
$39,250$247,455
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 4.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,714/moAssumable @ 3.45% + gap loan
$4,000/moAssumed loan: $2,399/mo
Gap financing: $1,601/mo
$714less per month with the assumable
Your Savings on This Property
6382 Ottawa, Colorado Springs · 3.45% VA vs 6.5% conventional
$714
per month
$8,567
per year
$257,003
over 30 years
$257,002
interest saved
How gap financing works: The equity gap ($247,455) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,250, 5% of purchase price) and a second mortgage for the rest ($208,205 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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