Loan Comparison: 2.89% vs 6.5%
6063 Yamhill, Colorado Springs, CO 80925 · 3bd/2ba · $429,900
List Price
$429,900
Assumable Rate
2.89%
Remaining Balance
$312,901
Equity Gap
$116,998
Loan Type
VAAdjust Your Scenario
$21,495
$21,495$116,998
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 4.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,581/moAssumable @ 2.89% + gap loan
$2,035/moAssumed loan: $1,301/mo
Gap financing: $734/mo
$546less per month with the assumable
Your Savings on This Property
6063 Yamhill, Colorado Springs · 2.89% VA vs 6.5% conventional
$546
per month
$6,556
per year
$196,686
over 30 years
$196,685
interest saved
How gap financing works: The equity gap ($116,998) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,495, 5% of purchase price) and a second mortgage for the rest ($95,503 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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