Loan Comparison: 2.94% vs 6.5%
10274 Beckham Street, Peyton, CO 80831 · 4bd/3ba · $620,000
List Price
$620,000
Assumable Rate
2.94%
Remaining Balance
$534,057
Equity Gap
$85,942
Loan Type
VAAdjust Your Scenario
$31,000
$31,000$85,942
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 3.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,723/moAssumable @ 2.94% + gap loan
$2,619/moAssumed loan: $2,234/mo
Gap financing: $384/mo
$1,104less per month with the assumable
Your Savings on This Property
10274 Beckham Street, Peyton · 2.94% VA vs 6.5% conventional
$1,104
per month
$13,252
per year
$397,569
over 30 years
$397,568
interest saved
How gap financing works: The equity gap ($85,942) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,000, 5% of purchase price) and a second mortgage for the rest ($54,942 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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