Loan Comparison: 2.96% vs 6.5%
11334 Scenic Brush Drive, Peyton, CO 80831 · 3bd/2ba · $509,000
List Price
$509,000
Assumable Rate
2.96%
Remaining Balance
$353,233
Equity Gap
$155,767
Loan Type
VAAdjust Your Scenario
$25,450
$25,450$155,767
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 4.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,056/moAssumable @ 2.96% + gap loan
$2,393/moAssumed loan: $1,482/mo
Gap financing: $911/mo
$664less per month with the assumable
Your Savings on This Property
11334 Scenic Brush Drive, Peyton · 2.96% VA vs 6.5% conventional
$664
per month
$7,962
per year
$238,872
over 30 years
$238,872
interest saved
How gap financing works: The equity gap ($155,767) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,450, 5% of purchase price) and a second mortgage for the rest ($130,317 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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