Loan Comparison: 3.05% vs 6.5%
9752 Wando, Colorado Springs, CO 80925 · 4bd/3ba · $459,900
List Price
$459,900
Assumable Rate
3.05%
Remaining Balance
$469,557
Equity Gap
$36,521
Loan Type
VAAdjust Your Scenario
$22,995
$22,995$36,521
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.05% (VA)
Blended Rate: 3.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 3.05% + gap loan
$2,096/moAssumed loan: $1,992/mo
Gap financing: $104/mo
$665less per month with the assumable
Your Savings on This Property
9752 Wando, Colorado Springs · 3.05% VA vs 6.5% conventional
$665
per month
$7,982
per year
$239,464
over 30 years
$285,642
interest saved
How gap financing works: The equity gap ($36,521) 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 ($13,526 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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