Loan Comparison: 2.68% vs 6.5%
7702 Old Spec, Peyton, CO 80831 · 3bd/3ba · $419,000
List Price
$419,000
Assumable Rate
2.68%
Remaining Balance
$251,907
Equity Gap
$167,093
Loan Type
VAAdjust Your Scenario
$20,950
$20,950$167,093
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 4.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,516/moAssumable @ 2.68% + gap loan
$2,143/moAssumed loan: $1,019/mo
Gap financing: $1,124/mo
$373less per month with the assumable
Your Savings on This Property
7702 Old Spec, Peyton · 2.68% VA vs 6.5% conventional
$373
per month
$4,478
per year
$134,338
over 30 years
$134,338
interest saved
How gap financing works: The equity gap ($167,093) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,950, 5% of purchase price) and a second mortgage for the rest ($146,143 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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