Loan Comparison: 2.96% vs 6.5%
9132 Baltin, Colorado Springs, CO 80927 · 3bd/3ba · $395,000
List Price
$395,000
Assumable Rate
2.96%
Remaining Balance
$336,402
Equity Gap
$59,349
Loan Type
VAAdjust Your Scenario
$19,750
$19,750$59,349
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 3.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 2.96% + gap loan
$1,716/moAssumed loan: $1,411/mo
Gap financing: $304/mo
$656less per month with the assumable
Your Savings on This Property
9132 Baltin, Colorado Springs · 2.96% VA vs 6.5% conventional
$656
per month
$7,876
per year
$236,274
over 30 years
$237,025
interest saved
How gap financing works: The equity gap ($59,349) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($39,599 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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