Loan Comparison: 2.8% vs 6.5%
12702 Longview Park Lane, Peyton, CO 80831 · 3bd/3ba · $674,999
List Price
$674,999
Assumable Rate
2.8%
Remaining Balance
$418,435
Equity Gap
$256,564
Loan Type
VAAdjust Your Scenario
$33,750
$33,750$256,564
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 4.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,053/moAssumable @ 2.8% + gap loan
$3,277/moAssumed loan: $1,719/mo
Gap financing: $1,558/mo
$776less per month with the assumable
Your Savings on This Property
12702 Longview Park Lane, Peyton · 2.8% VA vs 6.5% conventional
$776
per month
$9,310
per year
$279,308
over 30 years
$279,308
interest saved
How gap financing works: The equity gap ($256,564) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,750, 5% of purchase price) and a second mortgage for the rest ($222,814 at 7.5%). 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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