Loan Comparison: 6.29% vs 6.5%
11069 Silky Thread Road, Peyton, CO 80831 · 3bd/3ba · $519,000
List Price
$519,000
Assumable Rate
6.29%
Remaining Balance
$492,027
Equity Gap
$26,973
Loan Type
VAAdjust Your Scenario
$25,950
$25,950$26,973
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.29% (VA)
Blended Rate: 6.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,116/moAssumable @ 6.29% + gap loan
$3,049/moAssumed loan: $3,042/mo
Gap financing: $7/mo
$67less per month with the assumable
Your Savings on This Property
11069 Silky Thread Road, Peyton · 6.29% VA vs 6.5% conventional
$67
per month
$803
per year
$24,103
over 30 years
$24,103
interest saved
How gap financing works: The equity gap ($26,973) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,950, 5% of purchase price) and a second mortgage for the rest ($1,023 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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