Loan Comparison: 4.17% vs 6.5%
1526 Chutney, Colorado Springs, CO 80907 · 4bd/4ba · $544,000
List Price
$544,000
Assumable Rate
4.17%
Remaining Balance
$398,834
Equity Gap
$145,165
Loan Type
VAAdjust Your Scenario
$27,200
$27,200$145,165
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (VA)
Blended Rate: 5.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,267/moAssumable @ 4.17% + gap loan
$2,850/moAssumed loan: $1,943/mo
Gap financing: $907/mo
$416less per month with the assumable
Your Savings on This Property
1526 Chutney, Colorado Springs · 4.17% VA vs 6.5% conventional
$416
per month
$4,993
per year
$149,792
over 30 years
$149,791
interest saved
How gap financing works: The equity gap ($145,165) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,200, 5% of purchase price) and a second mortgage for the rest ($117,965 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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