Loan Comparison: 6.92% vs 6.5%
7447 Sun Prairie Drive, Colorado Springs, CO 80925 · 5bd/4ba · $475,000
List Price
$475,000
Assumable Rate
6.92%
Remaining Balance
$439,905
Equity Gap
$35,094
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$35,094
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%
$2,852/moAssumable @ 6.92% + gap loan
$2,982/moAssumed loan: $2,903/mo
Gap financing: $79/mo
Your Savings on This Property
7447 Sun Prairie Drive, 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 ($35,094) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($11,344 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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