Loan Comparison: 2.89% vs 6.5%
6063 Yamhill, Colorado Springs, CO 80925 · 3bd/2ba · $420,000
List Price
$420,000
Assumable Rate
2.89%
Remaining Balance
$311,455
Equity Gap
$106,377
Loan Type
VAAdjust Your Scenario
$21,000
$21,000$106,377
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 4.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 2.89% + gap loan
$1,951/moAssumed loan: $1,295/mo
Gap financing: $656/mo
$571less per month with the assumable
Your Savings on This Property
6063 Yamhill, Colorado Springs · 2.89% VA vs 6.5% conventional
$571
per month
$6,849
per year
$205,479
over 30 years
$203,311
interest saved
How gap financing works: The equity gap ($106,377) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($85,377 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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