Loan Comparison: 2.48% vs 6.5%
6059 Mapleton, Colorado Springs, CO 80918 · 4bd/3ba · $569,900
List Price
$569,900
Assumable Rate
2.48%
Remaining Balance
$234,976
Equity Gap
$345,356
Loan Type
VAAdjust Your Scenario
$28,495
$28,495$345,356
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.48% (VA)
Blended Rate: 5.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,422/moAssumable @ 2.48% + gap loan
$3,362/moAssumed loan: $926/mo
Gap financing: $2,436/mo
$60less per month with the assumable
Your Savings on This Property
6059 Mapleton, Colorado Springs · 2.48% VA vs 6.5% conventional
$60
per month
$716
per year
$21,479
over 30 years
$31,911
interest saved
How gap financing works: The equity gap ($345,356) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,495, 5% of purchase price) and a second mortgage for the rest ($316,861 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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