Loan Comparison: 2.68% vs 6.5%
6365 Shirecliff, Colorado Springs, CO 80918 · 4bd/4ba · $469,999
List Price
$469,999
Assumable Rate
2.68%
Remaining Balance
$308,080
Equity Gap
$161,919
Loan Type
VAAdjust Your Scenario
$23,500
$23,500$161,919
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 4.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 2.68% + gap loan
$2,311/moAssumed loan: $1,246/mo
Gap financing: $1,064/mo
$512less per month with the assumable
Your Savings on This Property
6365 Shirecliff, Colorado Springs · 2.68% VA vs 6.5% conventional
$512
per month
$6,138
per year
$184,154
over 30 years
$184,154
interest saved
How gap financing works: The equity gap ($161,919) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,500, 5% of purchase price) and a second mortgage for the rest ($138,419 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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