Loan Comparison: 2.87% vs 6.5%
6069 Rowdy, Colorado Springs, CO 80924 · 5bd/3ba · $699,000
List Price
$699,000
Assumable Rate
2.87%
Remaining Balance
$281,291
Equity Gap
$417,077
Loan Type
VAAdjust Your Scenario
$34,950
$34,950$417,077
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 6.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 2.87% + gap loan
$4,105/moAssumed loan: $1,166/mo
Gap financing: $2,938/mo
$93less per month with the assumable
Your Savings on This Property
6069 Rowdy, Colorado Springs · 2.87% VA vs 6.5% conventional
$93
per month
$1,113
per year
$33,379
over 30 years
$32,747
interest saved
How gap financing works: The equity gap ($417,077) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($382,127 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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