Loan Comparison: 3.68% vs 6.5%
5536 Sonnet, Colorado Springs, CO 80918 · 3bd/3ba · $465,000
List Price
$465,000
Assumable Rate
3.68%
Remaining Balance
$168,593
Equity Gap
$295,772
Loan Type
VAAdjust Your Scenario
$23,250
$23,250$295,772
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.68% (VA)
Blended Rate: 6.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 3.68% + gap loan
$2,870/moAssumed loan: $774/mo
Gap financing: $2,095/mo
Your Savings on This Property
5536 Sonnet, Colorado Springs · 3.68% 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 ($295,772) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($272,522 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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