Loan Comparison: 3.31% vs 6.5%
5608 Hawkesbury, Colorado Springs, CO 80911 · 4bd/4ba · $415,000
List Price
$415,000
Assumable Rate
3.31%
Remaining Balance
$260,752
Equity Gap
$197,758
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$197,758
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (VA)
Blended Rate: 5.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 3.31% + gap loan
$2,504/moAssumed loan: $1,143/mo
Gap financing: $1,361/mo
Your Savings on This Property
5608 Hawkesbury, Colorado Springs · 3.31% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$39,001
interest saved
How gap financing works: The equity gap ($197,758) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($177,008 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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