Loan Comparison: 4.98% vs 6.5%
3545 Sedgewood, Colorado Springs, CO 80918 · 3bd/3ba · $515,000
List Price
$515,000
Assumable Rate
4.98%
Remaining Balance
$492,990
Equity Gap
$26,898
Loan Type
VAAdjust Your Scenario
$25,750
$25,750$26,898
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (VA)
Blended Rate: 4.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 4.98% + gap loan
$2,649/moAssumed loan: $2,640/mo
Gap financing: $9/mo
$443less per month with the assumable
Your Savings on This Property
3545 Sedgewood, Colorado Springs · 4.98% VA vs 6.5% conventional
$443
per month
$5,317
per year
$159,520
over 30 years
$164,408
interest saved
How gap financing works: The equity gap ($26,898) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($1,148 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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