Loan Comparison: 3.17% vs 6.5%
1065 Applewood, Colorado Springs, CO 80907 · 3bd/2ba · $340,000
List Price
$340,000
Assumable Rate
3.17%
Remaining Balance
$6,495
Equity Gap
$333,505
Loan Type
VAAdjust Your Scenario
$17,000
$17,000$333,505
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.17% (VA)
Blended Rate: 8.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,042/moAssumable @ 3.17% + gap loan
$2,462/moAssumed loan: $28/mo
Gap financing: $2,434/mo
Your Savings on This Property
1065 Applewood, Colorado Springs · 3.17% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($333,505) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,000, 5% of purchase price) and a second mortgage for the rest ($316,505 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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