Loan Comparison: 2.89% vs 6.5%
6063 Yamhill, Colorado Springs, CO 80925 · 3bd/2ba · $425,000
List Price
$425,000
Assumable Rate
2.89%
Remaining Balance
$312,179
Equity Gap
$111,377
Loan Type
VAAdjust Your Scenario
$21,250
$21,250$111,377
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 4.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 2.89% + gap loan
$1,991/moAssumed loan: $1,298/mo
Gap financing: $693/mo
$561less per month with the assumable
Your Savings on This Property
6063 Yamhill, Colorado Springs · 2.89% VA vs 6.5% conventional
$561
per month
$6,735
per year
$202,055
over 30 years
$200,611
interest saved
How gap financing works: The equity gap ($111,377) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($90,127 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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