Loan Comparison: 2.98% vs 6.5%
5660 Tuckerman, Colorado Springs, CO 80918 · 4bd/3ba · $459,900
List Price
$459,900
Assumable Rate
2.98%
Remaining Balance
$379,842
Equity Gap
$80,058
Loan Type
VAAdjust Your Scenario
$22,995
$22,995$80,058
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 2.98% + gap loan
$2,036/moAssumed loan: $1,597/mo
Gap financing: $439/mo
$725less per month with the assumable
Your Savings on This Property
5660 Tuckerman, Colorado Springs · 2.98% VA vs 6.5% conventional
$725
per month
$8,705
per year
$261,157
over 30 years
$261,157
interest saved
How gap financing works: The equity gap ($80,058) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,995, 5% of purchase price) and a second mortgage for the rest ($57,063 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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