Loan Comparison: 3.5% vs 6.5%
12644 Catch Pen Road, Peyton, CO 80831 · 6bd/6ba · $399,900
List Price
$399,900
Assumable Rate
3.5%
Remaining Balance
$246,925
Equity Gap
$152,975
Loan Type
VAAdjust Your Scenario
$19,995
$19,995$152,975
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.5% (VA)
Blended Rate: 4.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,401/moAssumable @ 3.5% + gap loan
$2,039/moAssumed loan: $1,109/mo
Gap financing: $930/mo
$363less per month with the assumable
Your Savings on This Property
12644 Catch Pen Road, Peyton · 3.5% VA vs 6.5% conventional
$363
per month
$4,352
per year
$130,550
over 30 years
$130,550
interest saved
How gap financing works: The equity gap ($152,975) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,995, 5% of purchase price) and a second mortgage for the rest ($132,980 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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