Loan Comparison: 2.84% vs 6.5%
7585 Alpine Daisy, Colorado Springs, CO 80925 · 4bd/3ba · $490,000
List Price
$490,000
Assumable Rate
2.84%
Remaining Balance
$433,301
Equity Gap
$56,699
Loan Type
VAAdjust Your Scenario
$24,500
$24,500$56,699
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 3.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 2.84% + gap loan
$2,037/moAssumed loan: $1,790/mo
Gap financing: $248/mo
$905less per month with the assumable
Your Savings on This Property
7585 Alpine Daisy, Colorado Springs · 2.84% VA vs 6.5% conventional
$905
per month
$10,861
per year
$325,821
over 30 years
$325,821
interest saved
How gap financing works: The equity gap ($56,699) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($32,199 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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