Loan Comparison: 6.95% vs 6.5%
3145 Starlight Circle, Colorado Springs, CO 80916 · 2bd/1ba · $194,900
List Price
$194,900
Assumable Rate
6.95%
Remaining Balance
$184,693
Equity Gap
$10,206
Loan Type
VAAdjust Your Scenario
$9,745
$9,745$10,206
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.95% (VA)
Blended Rate: 6.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,170/moAssumable @ 6.95% + gap loan
$1,226/moAssumed loan: $1,223/mo
Gap financing: $3/mo
Your Savings on This Property
3145 Starlight Circle, Colorado Springs · 6.95% 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 ($10,206) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,745, 5% of purchase price) and a second mortgage for the rest ($461 at 7.5%). 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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