Loan Comparison: 3.62% vs 6.5%
3970 Saddle Rock, Colorado Springs, CO 80918 · 5bd/4ba · $930,000
List Price
$930,000
Assumable Rate
3.62%
Remaining Balance
$584,113
Equity Gap
$541,556
Loan Type
VAAdjust Your Scenario
$46,500
$46,500$541,556
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (VA)
Blended Rate: 5.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,584/moAssumable @ 3.62% + gap loan
$6,469/moAssumed loan: $2,662/mo
Gap financing: $3,807/mo
Your Savings on This Property
3970 Saddle Rock, Colorado Springs · 3.62% 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 ($541,556) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($46,500, 5% of purchase price) and a second mortgage for the rest ($495,056 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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