Loan Comparison: 4.98% vs 6.5%
13153 Crooked Hill, Peyton, CO 80831 · 5bd/4ba · $585,000
List Price
$585,000
Assumable Rate
4.98%
Remaining Balance
$490,369
Equity Gap
$94,631
Loan Type
VAAdjust Your Scenario
$29,250
$29,250$94,631
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (VA)
Blended Rate: 5.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 4.98% + gap loan
$3,129/moAssumed loan: $2,626/mo
Gap financing: $503/mo
$384less per month with the assumable
Your Savings on This Property
13153 Crooked Hill, Peyton · 4.98% VA vs 6.5% conventional
$384
per month
$4,603
per year
$138,088
over 30 years
$138,088
interest saved
How gap financing works: The equity gap ($94,631) 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 ($65,381 at 8.5%). 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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