Loan Comparison: 2.86% vs 6.5%
10932 Checo Way, Peyton, CO 80831 · 3bd/3ba · $475,000
List Price
$475,000
Assumable Rate
2.86%
Remaining Balance
$402,797
Equity Gap
$72,202
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$72,202
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.86% (VA)
Blended Rate: 3.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 2.86% + gap loan
$2,007/moAssumed loan: $1,668/mo
Gap financing: $339/mo
$845less per month with the assumable
Your Savings on This Property
10932 Checo Way, Peyton · 2.86% VA vs 6.5% conventional
$845
per month
$10,146
per year
$304,372
over 30 years
$304,371
interest saved
How gap financing works: The equity gap ($72,202) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($48,452 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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