Loan Comparison: 5.85% vs 6.5%
2917 Sovereign, Colorado Springs, CO 80920 · 4bd/3ba · $614,900
List Price
$614,900
Assumable Rate
5.85%
Remaining Balance
$507,600
Equity Gap
$117,300
Loan Type
VAAdjust Your Scenario
$30,745
$30,745$117,300
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.85% (VA)
Blended Rate: 6.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,692/moAssumable @ 5.85% + gap loan
$3,660/moAssumed loan: $2,995/mo
Gap financing: $666/mo
$32less per month with the assumable
Your Savings on This Property
2917 Sovereign, Colorado Springs · 5.85% VA vs 6.5% conventional
$32
per month
$386
per year
$11,586
over 30 years
$21,586
interest saved
How gap financing works: The equity gap ($117,300) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,745, 5% of purchase price) and a second mortgage for the rest ($86,555 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.
🏠
Back to This Listing
View photos, details, and request a showing for 2917 Sovereign.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.