Loan Comparison: 2.94% vs 6.5%
7055 Buckboard, Peyton, CO 80831 · 4bd/3ba · $790,000
List Price
$790,000
Assumable Rate
2.94%
Remaining Balance
$448,130
Equity Gap
$338,772
Loan Type
VAAdjust Your Scenario
$39,500
$39,500$338,772
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 5.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,744/moAssumable @ 2.94% + gap loan
$4,176/moAssumed loan: $1,875/mo
Gap financing: $2,301/mo
$568less per month with the assumable
Your Savings on This Property
7055 Buckboard, Peyton · 2.94% VA vs 6.5% conventional
$568
per month
$6,812
per year
$204,359
over 30 years
$201,261
interest saved
How gap financing works: The equity gap ($338,772) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,500, 5% of purchase price) and a second mortgage for the rest ($299,272 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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