Loan Comparison: 2.77% vs 6.5%
2835 Brogans Bluff, Colorado Springs, CO 80919 · 5bd/3ba · $1,199,000
List Price
$1,199,000
Assumable Rate
2.77%
Remaining Balance
$435,287
Equity Gap
$763,713
Loan Type
VAAdjust Your Scenario
$59,950
$59,950$763,713
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 6.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,200/moAssumable @ 2.77% + gap loan
$7,193/moAssumed loan: $1,782/mo
Gap financing: $5,411/mo
$7less per month with the assumable
Your Savings on This Property
2835 Brogans Bluff, Colorado Springs · 2.77% VA vs 6.5% conventional
$7
per month
$79
per year
$2,378
over 30 years
$2,378
interest saved
How gap financing works: The equity gap ($763,713) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($59,950, 5% of purchase price) and a second mortgage for the rest ($703,763 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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