Loan Comparison: 3.1% vs 6.5%
9622 Yukon, Colorado Springs, CO 80925 · 3bd/3ba · $394,990
List Price
$394,990
Assumable Rate
3.1%
Remaining Balance
$339,920
Equity Gap
$54,355
Loan Type
VAAdjust Your Scenario
$19,750
$19,750$54,355
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 3.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 3.1% + gap loan
$1,718/moAssumed loan: $1,452/mo
Gap financing: $266/mo
$654less per month with the assumable
Your Savings on This Property
9622 Yukon, Colorado Springs · 3.1% VA vs 6.5% conventional
$654
per month
$7,850
per year
$235,504
over 30 years
$234,789
interest saved
How gap financing works: The equity gap ($54,355) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($34,605 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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