Loan Comparison: 4.59% vs 6.5%
7394 Owings Point, Peyton, CO 80831 · 4bd/4ba · $355,000
List Price
$355,000
Assumable Rate
4.59%
Remaining Balance
$197,114
Equity Gap
$157,885
Loan Type
VAAdjust Your Scenario
$17,750
$17,750$157,885
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.59% (VA)
Blended Rate: 5.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,132/moAssumable @ 4.59% + gap loan
$1,989/moAssumed loan: $1,009/mo
Gap financing: $980/mo
$142less per month with the assumable
Your Savings on This Property
7394 Owings Point, Peyton · 4.59% VA vs 6.5% conventional
$142
per month
$1,710
per year
$51,296
over 30 years
$51,295
interest saved
How gap financing works: The equity gap ($157,885) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,750, 5% of purchase price) and a second mortgage for the rest ($140,135 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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