Loan Comparison: 3.6% vs 6.5%
10042 Intrepid, Colorado Springs, CO 80925 · 5bd/4ba · $457,500
List Price
$457,500
Assumable Rate
3.6%
Remaining Balance
$361,016
Equity Gap
$144,061
Loan Type
VAAdjust Your Scenario
$22,875
$22,875$144,061
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.6% (VA)
Blended Rate: 4.83%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,747/moAssumable @ 3.6% + gap loan
$2,573/moAssumed loan: $1,641/mo
Gap financing: $932/mo
$174less per month with the assumable
Your Savings on This Property
10042 Intrepid, Colorado Springs · 3.6% VA vs 6.5% conventional
$174
per month
$2,088
per year
$62,628
over 30 years
$110,205
interest saved
How gap financing works: The equity gap ($144,061) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,875, 5% of purchase price) and a second mortgage for the rest ($121,186 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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