Loan Comparison: 6.94% vs 6.5%
10198 Golf Crest Drive, Peyton, CO 80831 · 6bd/4ba · $585,000
List Price
$585,000
Assumable Rate
6.94%
Remaining Balance
$495,228
Equity Gap
$89,772
Loan Type
VAAdjust Your Scenario
$29,250
$29,250$89,772
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.94% (VA)
Blended Rate: 7.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 6.94% + gap loan
$3,698/moAssumed loan: $3,275/mo
Gap financing: $423/mo
Your Savings on This Property
10198 Golf Crest Drive, Peyton · 6.94% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($89,772) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($60,522 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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