Loan Comparison: 5.23% vs 6.5%
1917 Sheridan, Colorado Springs, CO 80905 · 2bd/1ba · $249,000
List Price
$249,000
Assumable Rate
5.23%
Remaining Balance
$31,612
Equity Gap
$217,388
Loan Type
VAAdjust Your Scenario
$12,450
$12,450$217,388
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 8.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,495/moAssumable @ 5.23% + gap loan
$1,750/moAssumed loan: $174/mo
Gap financing: $1,576/mo
Your Savings on This Property
1917 Sheridan, Colorado Springs · 5.23% 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 ($217,388) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,450, 5% of purchase price) and a second mortgage for the rest ($204,938 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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