Loan Comparison: 6.82% vs 6.5%
7365 Sullivan Circle, Colorado Springs, CO 80911 · 3bd/3ba · $364,999
List Price
$364,999
Assumable Rate
6.82%
Remaining Balance
$281,969
Equity Gap
$83,030
Loan Type
VAAdjust Your Scenario
$18,250
$18,250$83,030
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.82% (VA)
Blended Rate: 6.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,192/moAssumable @ 6.82% + gap loan
$2,295/moAssumed loan: $1,842/mo
Gap financing: $453/mo
Your Savings on This Property
7365 Sullivan Circle, Colorado Springs · 6.82% 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 ($83,030) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,250, 5% of purchase price) and a second mortgage for the rest ($64,780 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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