Loan Comparison: 3.08% vs 6.5%
6068 Napa, Colorado Springs, CO 80925 · 3bd/2ba · $419,900
List Price
$419,900
Assumable Rate
3.08%
Remaining Balance
$375,003
Equity Gap
$44,896
Loan Type
VAAdjust Your Scenario
$20,995
$20,995$44,896
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 3.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,521/moAssumable @ 3.08% + gap loan
$1,781/moAssumed loan: $1,597/mo
Gap financing: $184/mo
$740less per month with the assumable
Your Savings on This Property
6068 Napa, Colorado Springs · 3.08% VA vs 6.5% conventional
$740
per month
$8,884
per year
$266,515
over 30 years
$266,514
interest saved
How gap financing works: The equity gap ($44,896) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,995, 5% of purchase price) and a second mortgage for the rest ($23,901 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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