Loan Comparison: 2.87% vs 6.5%
6751 Skuna, Colorado Springs, CO 80925 · 4bd/3ba · $500,000
List Price
$500,000
Assumable Rate
2.87%
Remaining Balance
$468,393
Equity Gap
$35,386
Loan Type
VAAdjust Your Scenario
$25,000
$25,000$35,386
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 2.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 2.87% + gap loan
$2,022/moAssumed loan: $1,942/mo
Gap financing: $80/mo
$980less per month with the assumable
Your Savings on This Property
6751 Skuna, Colorado Springs · 2.87% VA vs 6.5% conventional
$980
per month
$11,765
per year
$352,940
over 30 years
$356,719
interest saved
How gap financing works: The equity gap ($35,386) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($10,386 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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