Loan Comparison: 2.96% vs 6.5%
11650 Cranston, Peyton, CO 80831 · 6bd/4ba · $566,000
List Price
$566,000
Assumable Rate
2.96%
Remaining Balance
$465,348
Equity Gap
$100,652
Loan Type
VAAdjust Your Scenario
$28,300
$28,300$100,652
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 3.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,399/moAssumable @ 2.96% + gap loan
$2,508/moAssumed loan: $1,952/mo
Gap financing: $556/mo
$890less per month with the assumable
Your Savings on This Property
11650 Cranston, Peyton · 2.96% VA vs 6.5% conventional
$890
per month
$10,685
per year
$320,546
over 30 years
$320,546
interest saved
How gap financing works: The equity gap ($100,652) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,300, 5% of purchase price) and a second mortgage for the rest ($72,352 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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