Loan Comparison: 2.78% vs 6.5%
21295 US Highway 24, Peyton, CO 80831 · 4bd/3ba · $1,149,900
List Price
$1,149,900
Assumable Rate
2.78%
Remaining Balance
$808,808
Equity Gap
$341,092
Loan Type
VAAdjust Your Scenario
$57,495
$57,495$341,092
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.78% (VA)
Blended Rate: 4.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,905/moAssumable @ 2.78% + gap loan
$5,298/moAssumed loan: $3,315/mo
Gap financing: $1,983/mo
$1,607less per month with the assumable
Your Savings on This Property
21295 US Highway 24, Peyton · 2.78% VA vs 6.5% conventional
$1,607
per month
$19,284
per year
$578,534
over 30 years
$578,534
interest saved
How gap financing works: The equity gap ($341,092) 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 ($283,597 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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