Loan Comparison: 6.92% vs 6.5%
17 Clover Circle, Colorado Springs, CO 80906 · 3bd/3ba · $447,500
List Price
$447,500
Assumable Rate
6.92%
Remaining Balance
$416,439
Equity Gap
$31,060
Loan Type
VAAdjust Your Scenario
$22,375
$22,375$31,060
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.92% (VA)
Blended Rate: 6.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,687/moAssumable @ 6.92% + gap loan
$2,809/moAssumed loan: $2,748/mo
Gap financing: $61/mo
Your Savings on This Property
17 Clover Circle, Colorado Springs · 6.92% 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 ($31,060) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,375, 5% of purchase price) and a second mortgage for the rest ($8,685 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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