Loan Comparison: 3.76% vs 6.5%
10540 Summer Ridge Drive, Peyton, CO 80831 · 5bd/4ba · $560,000
List Price
$560,000
Assumable Rate
3.76%
Remaining Balance
$267,792
Equity Gap
$292,208
Loan Type
VAAdjust Your Scenario
$28,000
$28,000$292,208
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (VA)
Blended Rate: 5.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,363/moAssumable @ 3.76% + gap loan
$3,089/moAssumed loan: $1,242/mo
Gap financing: $1,847/mo
$274less per month with the assumable
Your Savings on This Property
10540 Summer Ridge Drive, Peyton · 3.76% VA vs 6.5% conventional
$274
per month
$3,282
per year
$98,465
over 30 years
$98,465
interest saved
How gap financing works: The equity gap ($292,208) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,000, 5% of purchase price) and a second mortgage for the rest ($264,208 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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