Loan Comparison: 2.96% vs 6.5%
10138 Golf Crest Drive, Peyton, CO 80831 · 5bd/3ba · $509,900
List Price
$509,900
Assumable Rate
2.96%
Remaining Balance
$241,769
Equity Gap
$268,130
Loan Type
VAAdjust Your Scenario
$25,495
$25,495$268,130
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 5.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,062/moAssumable @ 2.96% + gap loan
$2,711/moAssumed loan: $1,014/mo
Gap financing: $1,697/mo
$351less per month with the assumable
Your Savings on This Property
10138 Golf Crest Drive, Peyton · 2.96% VA vs 6.5% conventional
$351
per month
$4,214
per year
$126,407
over 30 years
$126,406
interest saved
How gap financing works: The equity gap ($268,130) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,495, 5% of purchase price) and a second mortgage for the rest ($242,635 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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