Loan Comparison: 2.98% vs 6.5%
9179 Kingston Heath Road, Peyton, CO 80831 · 2bd/3ba · $625,000
List Price
$625,000
Assumable Rate
2.98%
Remaining Balance
$444,907
Equity Gap
$180,093
Loan Type
VAAdjust Your Scenario
$31,250
$31,250$180,093
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 4.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 2.98% + gap loan
$2,912/moAssumed loan: $1,871/mo
Gap financing: $1,041/mo
$841less per month with the assumable
Your Savings on This Property
9179 Kingston Heath Road, Peyton · 2.98% VA vs 6.5% conventional
$841
per month
$10,095
per year
$302,840
over 30 years
$302,840
interest saved
How gap financing works: The equity gap ($180,093) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($148,843 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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