Loan Comparison: 5.23% vs 6.5%
3895 Shining Star, Colorado Springs, CO 80925 · 3bd/2ba · $449,990
List Price
$449,990
Assumable Rate
5.23%
Remaining Balance
$401,953
Equity Gap
$48,036
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$48,036
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 5.23% + gap loan
$2,411/moAssumed loan: $2,215/mo
Gap financing: $196/mo
$291less per month with the assumable
Your Savings on This Property
3895 Shining Star, Colorado Springs · 5.23% VA vs 6.5% conventional
$291
per month
$3,493
per year
$104,781
over 30 years
$104,779
interest saved
How gap financing works: The equity gap ($48,036) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($25,536 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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