Loan Comparison: 2.8% vs 6.5%
6751 Skuna Drive, Colorado Springs, CO 80925 · 3bd/1ba · $490,000
List Price
$490,000
Assumable Rate
2.8%
Remaining Balance
$461,947
Equity Gap
$28,053
Loan Type
VAAdjust Your Scenario
$24,500
$24,500$28,053
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 2.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 2.8% + gap loan
$1,923/moAssumed loan: $1,898/mo
Gap financing: $25/mo
$1,019less per month with the assumable
Your Savings on This Property
6751 Skuna Drive, Colorado Springs · 2.8% VA vs 6.5% conventional
$1,019
per month
$12,232
per year
$366,955
over 30 years
$366,955
interest saved
How gap financing works: The equity gap ($28,053) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($3,553 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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