Loan Comparison: 5.27% vs 6.5%
10096 Everglades Drive, Peyton, CO 80831 · 5bd/3ba · $599,000
List Price
$599,000
Assumable Rate
5.27%
Remaining Balance
$510,001
Equity Gap
$88,998
Loan Type
VAAdjust Your Scenario
$29,950
$29,950$88,998
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.27% (VA)
Blended Rate: 5.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,597/moAssumable @ 5.27% + gap loan
$3,235/moAssumed loan: $2,823/mo
Gap financing: $413/mo
$361less per month with the assumable
Your Savings on This Property
10096 Everglades Drive, Peyton · 5.27% VA vs 6.5% conventional
$361
per month
$4,336
per year
$130,084
over 30 years
$130,083
interest saved
How gap financing works: The equity gap ($88,998) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,950, 5% of purchase price) and a second mortgage for the rest ($59,048 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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