Loan Comparison: 3.16% vs 6.5%
5664 Southfork, Peyton, CO 80831 · 3bd/4ba · $465,000
List Price
$465,000
Assumable Rate
3.16%
Remaining Balance
$312,190
Equity Gap
$152,809
Loan Type
VAAdjust Your Scenario
$23,250
$23,250$152,809
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 3.16% + gap loan
$2,339/moAssumed loan: $1,343/mo
Gap financing: $996/mo
$453less per month with the assumable
Your Savings on This Property
5664 Southfork, Peyton · 3.16% VA vs 6.5% conventional
$453
per month
$5,432
per year
$162,960
over 30 years
$162,959
interest saved
How gap financing works: The equity gap ($152,809) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($129,559 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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