Loan Comparison: 2.35% vs 6.5%
14934 Pamela, Peyton, CO 80831 · 5bd/3ba · $499,900
List Price
$499,900
Assumable Rate
2.35%
Remaining Balance
$355,170
Equity Gap
$144,729
Loan Type
VAAdjust Your Scenario
$24,995
$24,995$144,729
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.35% (VA)
Blended Rate: 3.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 2.35% + gap loan
$2,296/moAssumed loan: $1,376/mo
Gap financing: $921/mo
$705less per month with the assumable
Your Savings on This Property
14934 Pamela, Peyton · 2.35% VA vs 6.5% conventional
$705
per month
$8,463
per year
$253,895
over 30 years
$253,894
interest saved
How gap financing works: The equity gap ($144,729) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,995, 5% of purchase price) and a second mortgage for the rest ($119,734 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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