Loan Comparison: 2.83% vs 6.5%
10269 Prairie Ridge, Peyton, CO 80831 · 4bd/3ba · $650,000
List Price
$650,000
Assumable Rate
2.83%
Remaining Balance
$262,016
Equity Gap
$387,984
Loan Type
VAAdjust Your Scenario
$32,500
$32,500$387,984
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 6.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 2.83% + gap loan
$3,814/moAssumed loan: $1,081/mo
Gap financing: $2,733/mo
$89less per month with the assumable
Your Savings on This Property
10269 Prairie Ridge, Peyton · 2.83% VA vs 6.5% conventional
$89
per month
$1,066
per year
$31,991
over 30 years
$31,991
interest saved
How gap financing works: The equity gap ($387,984) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($355,484 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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