Loan Comparison: 2.89% vs 6.5%
6954 Sedgerock, Colorado Springs, CO 80927 · 4bd/3ba · $533,000
List Price
$533,000
Assumable Rate
2.89%
Remaining Balance
$477,846
Equity Gap
$185,958
Loan Type
VAAdjust Your Scenario
$26,650
$26,650$185,958
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 4.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,200/moAssumable @ 2.89% + gap loan
$3,211/moAssumed loan: $1,986/mo
Gap financing: $1,225/mo
Your Savings on This Property
6954 Sedgerock, Colorado Springs · 2.89% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$126,900
interest saved
How gap financing works: The equity gap ($185,958) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,650, 5% of purchase price) and a second mortgage for the rest ($159,308 at 8.5%). 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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