Loan Comparison: 4.59% vs 6.5%
7394 Owings, Peyton, CO 80831 · 3bd/2ba · $380,000
List Price
$380,000
Assumable Rate
4.59%
Remaining Balance
$199,257
Equity Gap
$180,743
Loan Type
VAAdjust Your Scenario
$19,000
$19,000$180,743
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.59% (VA)
Blended Rate: 6.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,282/moAssumable @ 4.59% + gap loan
$2,264/moAssumed loan: $1,020/mo
Gap financing: $1,244/mo
$18less per month with the assumable
Your Savings on This Property
7394 Owings, Peyton · 4.59% VA vs 6.5% conventional
$18
per month
$214
per year
$6,413
over 30 years
$6,413
interest saved
How gap financing works: The equity gap ($180,743) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,000, 5% of purchase price) and a second mortgage for the rest ($161,743 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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