Loan Comparison: 2.68% vs 6.5%
12985 Mt Harvard Drive, Peyton, CO 80831 · 4bd/3ba · $620,000
List Price
$620,000
Assumable Rate
2.68%
Remaining Balance
$444,529
Equity Gap
$175,471
Loan Type
VAAdjust Your Scenario
$31,000
$31,000$175,471
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 3.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,723/moAssumable @ 2.68% + gap loan
$2,808/moAssumed loan: $1,798/mo
Gap financing: $1,010/mo
$914less per month with the assumable
Your Savings on This Property
12985 Mt Harvard Drive, Peyton · 2.68% VA vs 6.5% conventional
$914
per month
$10,973
per year
$329,187
over 30 years
$329,187
interest saved
How gap financing works: The equity gap ($175,471) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,000, 5% of purchase price) and a second mortgage for the rest ($144,471 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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