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
$464,323
Equity Gap
$101,677
Loan Type
VAAdjust Your Scenario
$28,300
$28,300$101,677
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 3.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,399/moAssumable @ 2.96% + gap loan
$2,512/moAssumed loan: $1,948/mo
Gap financing: $564/mo
$887less per month with the assumable
Your Savings on This Property
11650 Cranston, Peyton · 2.96% VA vs 6.5% conventional
$887
per month
$10,642
per year
$319,256
over 30 years
$319,256
interest saved
How gap financing works: The equity gap ($101,677) 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 ($73,377 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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