Loan Comparison: 2.87% vs 6.5%
12801 Oakland Hills, Peyton, CO 80831 · 4bd/3ba · $585,000
List Price
$585,000
Assumable Rate
2.87%
Remaining Balance
$449,103
Equity Gap
$134,906
Loan Type
VAAdjust Your Scenario
$29,250
$29,250$134,906
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 2.87% + gap loan
$2,674/moAssumed loan: $1,862/mo
Gap financing: $812/mo
$838less per month with the assumable
Your Savings on This Property
12801 Oakland Hills, Peyton · 2.87% VA vs 6.5% conventional
$838
per month
$10,059
per year
$301,759
over 30 years
$300,768
interest saved
How gap financing works: The equity gap ($134,906) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($105,656 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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