Loan Comparison: 5.27% vs 6.5%
2280 Cabernet, Colorado Springs, CO 80921 · 5bd/4ba · $1,199,000
List Price
$1,199,000
Assumable Rate
5.27%
Remaining Balance
$946,456
Equity Gap
$252,544
Loan Type
VAAdjust Your Scenario
$59,950
$59,950$252,544
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.27% (VA)
Blended Rate: 5.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,200/moAssumable @ 5.27% + gap loan
$6,719/moAssumed loan: $5,238/mo
Gap financing: $1,481/mo
$481less per month with the assumable
Your Savings on This Property
2280 Cabernet, Colorado Springs · 5.27% VA vs 6.5% conventional
$481
per month
$5,767
per year
$173,014
over 30 years
$173,014
interest saved
How gap financing works: The equity gap ($252,544) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($59,950, 5% of purchase price) and a second mortgage for the rest ($192,594 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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