Loan Comparison: 2.84% vs 6.5%
10843 Torreys Peak, Peyton, CO 80831 · 5bd/4ba · $595,000
List Price
$595,000
Assumable Rate
2.84%
Remaining Balance
$244,947
Equity Gap
$350,052
Loan Type
VAAdjust Your Scenario
$29,750
$29,750$350,052
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 6.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,573/moAssumable @ 2.84% + gap loan
$3,475/moAssumed loan: $1,012/mo
Gap financing: $2,463/mo
$98less per month with the assumable
Your Savings on This Property
10843 Torreys Peak, Peyton · 2.84% VA vs 6.5% conventional
$98
per month
$1,179
per year
$35,363
over 30 years
$35,362
interest saved
How gap financing works: The equity gap ($350,052) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,750, 5% of purchase price) and a second mortgage for the rest ($320,302 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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