Loan Comparison: 5.23% vs 6.5%
9342 Pony Gulch, Colorado Springs, CO 80925 · 3bd/3ba · $373,000
List Price
$373,000
Assumable Rate
5.23%
Remaining Balance
$343,170
Equity Gap
$29,829
Loan Type
VAAdjust Your Scenario
$18,650
$18,650$29,829
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,240/moAssumable @ 5.23% + gap loan
$1,977/moAssumed loan: $1,891/mo
Gap financing: $86/mo
$263less per month with the assumable
Your Savings on This Property
9342 Pony Gulch, Colorado Springs · 5.23% VA vs 6.5% conventional
$263
per month
$3,156
per year
$94,690
over 30 years
$94,689
interest saved
How gap financing works: The equity gap ($29,829) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,650, 5% of purchase price) and a second mortgage for the rest ($11,179 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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