Loan Comparison: 3.18% vs 6.5%
10912 Checo Way, Peyton, CO 80831 · 3bd/3ba · $590,000
List Price
$590,000
Assumable Rate
3.18%
Remaining Balance
$473,810
Equity Gap
$116,189
Loan Type
VAAdjust Your Scenario
$29,500
$29,500$116,189
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.18% (VA)
Blended Rate: 3.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,543/moAssumable @ 3.18% + gap loan
$2,650/moAssumed loan: $2,044/mo
Gap financing: $606/mo
$893less per month with the assumable
Your Savings on This Property
10912 Checo Way, Peyton · 3.18% VA vs 6.5% conventional
$893
per month
$10,712
per year
$321,375
over 30 years
$321,374
interest saved
How gap financing works: The equity gap ($116,189) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,500, 5% of purchase price) and a second mortgage for the rest ($86,689 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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