Loan Comparison: 2.98% vs 6.5%
12749 Granite Ridge Drive, Peyton, CO 80831 · 4bd/3ba · $549,000
List Price
$549,000
Assumable Rate
2.98%
Remaining Balance
$487,945
Equity Gap
$61,055
Loan Type
VAAdjust Your Scenario
$27,450
$27,450$61,055
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,297/moAssumable @ 2.98% + gap loan
$2,287/moAssumed loan: $2,052/mo
Gap financing: $235/mo
$1,010less per month with the assumable
Your Savings on This Property
12749 Granite Ridge Drive, Peyton · 2.98% VA vs 6.5% conventional
$1,010
per month
$12,116
per year
$363,472
over 30 years
$363,472
interest saved
How gap financing works: The equity gap ($61,055) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,450, 5% of purchase price) and a second mortgage for the rest ($33,605 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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