Loan Comparison: 3.1% vs 6.5%
9622 Yukon, Colorado Springs, CO 80925 · 3bd/3ba · $388,990
List Price
$388,990
Assumable Rate
3.1%
Remaining Balance
$339,919
Equity Gap
$49,070
Loan Type
VAAdjust Your Scenario
$19,450
$19,450$49,070
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 3.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,336/moAssumable @ 3.1% + gap loan
$1,679/moAssumed loan: $1,452/mo
Gap financing: $228/mo
$656less per month with the assumable
Your Savings on This Property
9622 Yukon, Colorado Springs · 3.1% VA vs 6.5% conventional
$656
per month
$7,878
per year
$236,335
over 30 years
$236,333
interest saved
How gap financing works: The equity gap ($49,070) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,450, 5% of purchase price) and a second mortgage for the rest ($29,620 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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