Loan Comparison: 3.9% vs 6.5%
1367 Firefly, Colorado Springs, CO 80916 · 3bd/2ba · $240,000
List Price
$240,000
Assumable Rate
3.9%
Remaining Balance
$173,655
Equity Gap
$98,157
Loan Type
VAAdjust Your Scenario
$12,000
$12,000$98,157
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.9% (VA)
Blended Rate: 5.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,441/moAssumable @ 3.9% + gap loan
$1,482/moAssumed loan: $819/mo
Gap financing: $662/mo
Your Savings on This Property
1367 Firefly, Colorado Springs · 3.9% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$17,256
interest saved
How gap financing works: The equity gap ($98,157) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,000, 5% of purchase price) and a second mortgage for the rest ($86,157 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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