Loan Comparison: 3.07% vs 6.5%
3417 Plantation, Colorado Springs, CO 80920 · 4bd/3ba · $439,000
List Price
$439,000
Assumable Rate
3.07%
Remaining Balance
$357,940
Equity Gap
$80,293
Loan Type
VAAdjust Your Scenario
$21,950
$21,950$80,293
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.83%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,636/moAssumable @ 3.07% + gap loan
$1,971/moAssumed loan: $1,523/mo
Gap financing: $449/mo
$665less per month with the assumable
Your Savings on This Property
3417 Plantation, Colorado Springs · 3.07% VA vs 6.5% conventional
$665
per month
$7,978
per year
$239,327
over 30 years
$238,560
interest saved
How gap financing works: The equity gap ($80,293) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,950, 5% of purchase price) and a second mortgage for the rest ($58,343 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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