Loan Comparison: 2.87% vs 6.5%
5297 Makalu, Colorado Springs, CO 80924 · 3bd/3ba · $574,900
List Price
$574,900
Assumable Rate
2.87%
Remaining Balance
$466,838
Equity Gap
$108,061
Loan Type
VAAdjust Your Scenario
$28,745
$28,745$108,061
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,452/moAssumable @ 2.87% + gap loan
$2,545/moAssumed loan: $1,936/mo
Gap financing: $610/mo
$907less per month with the assumable
Your Savings on This Property
5297 Makalu, Colorado Springs · 2.87% VA vs 6.5% conventional
$907
per month
$10,879
per year
$326,366
over 30 years
$326,365
interest saved
How gap financing works: The equity gap ($108,061) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,745, 5% of purchase price) and a second mortgage for the rest ($79,316 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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