Loan Comparison: 2.94% vs 6.5%
705 Coronado Drive, Sedalia, CO 80104 · 4bd/3ba · $850,000
List Price
$850,000
Assumable Rate
2.94%
Remaining Balance
$349,763
Equity Gap
$500,236
Loan Type
VAAdjust Your Scenario
$42,500
$42,500$500,236
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 5.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,104/moAssumable @ 2.94% + gap loan
$4,664/moAssumed loan: $1,463/mo
Gap financing: $3,201/mo
$440less per month with the assumable
Your Savings on This Property
705 Coronado Drive, Sedalia · 2.94% VA vs 6.5% conventional
$440
per month
$5,281
per year
$158,426
over 30 years
$158,425
interest saved
How gap financing works: The equity gap ($500,236) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,500, 5% of purchase price) and a second mortgage for the rest ($457,736 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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