Loan Comparison: 2.96% vs 6.5%
21295 Highway 24, Peyton, CO 80831 · 5bd/3ba · $1,149,900
List Price
$1,149,900
Assumable Rate
2.96%
Remaining Balance
$811,509
Equity Gap
$338,391
Loan Type
VAAdjust Your Scenario
$57,495
$57,495$338,391
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 4.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,905/moAssumable @ 2.96% + gap loan
$5,368/moAssumed loan: $3,404/mo
Gap financing: $1,964/mo
$1,537less per month with the assumable
Your Savings on This Property
21295 Highway 24, Peyton · 2.96% VA vs 6.5% conventional
$1,537
per month
$18,442
per year
$553,250
over 30 years
$553,250
interest saved
How gap financing works: The equity gap ($338,391) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($57,495, 5% of purchase price) and a second mortgage for the rest ($280,896 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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