Loan Comparison: 3.55% vs 6.5%
6764 Yocona Drive, Colorado Springs, CO 80925 · 3bd/3ba · $400,000
List Price
$400,000
Assumable Rate
3.55%
Remaining Balance
$83,531
Equity Gap
$316,469
Loan Type
VAAdjust Your Scenario
$20,000
$20,000$316,469
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.55% (VA)
Blended Rate: 6.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 3.55% + gap loan
$2,450/moAssumed loan: $377/mo
Gap financing: $2,073/mo
Your Savings on This Property
6764 Yocona Drive, Colorado Springs · 3.55% 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 ($316,469) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($296,469 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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