Loan Comparison: 3.07% vs 6.5%
2536 Peppercorn, Mead, CO 80542 · 4bd/3ba · $545,000
List Price
$545,000
Assumable Rate
3.07%
Remaining Balance
$465,600
Equity Gap
$79,399
Loan Type
VAAdjust Your Scenario
$27,250
$27,250$79,399
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,273/moAssumable @ 3.07% + gap loan
$2,382/moAssumed loan: $1,981/mo
Gap financing: $401/mo
$891less per month with the assumable
Your Savings on This Property
2536 Peppercorn, Mead · 3.07% VA vs 6.5% conventional
$891
per month
$10,691
per year
$320,739
over 30 years
$320,738
interest saved
How gap financing works: The equity gap ($79,399) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,250, 5% of purchase price) and a second mortgage for the rest ($52,149 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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