Loan Comparison: 3.76% vs 6.5%
10511 Summer Ridge, Peyton, CO 80831 · 4bd/3ba · $495,000
List Price
$495,000
Assumable Rate
3.76%
Remaining Balance
$440,399
Equity Gap
$54,601
Loan Type
VAAdjust Your Scenario
$24,750
$24,750$54,601
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (VA)
Blended Rate: 4.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 3.76% + gap loan
$2,272/moAssumed loan: $2,042/mo
Gap financing: $230/mo
$701less per month with the assumable
Your Savings on This Property
10511 Summer Ridge, Peyton · 3.76% VA vs 6.5% conventional
$701
per month
$8,409
per year
$252,258
over 30 years
$252,258
interest saved
How gap financing works: The equity gap ($54,601) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,750, 5% of purchase price) and a second mortgage for the rest ($29,851 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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