Loan Comparison: 2.96% vs 6.5%
12231 Sleeping Bear, Peyton, CO 80831 · 4bd/3ba · $564,999
List Price
$564,999
Assumable Rate
2.96%
Remaining Balance
$437,427
Equity Gap
$127,572
Loan Type
VAAdjust Your Scenario
$28,250
$28,250$127,572
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 3.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 2.96% + gap loan
$2,598/moAssumed loan: $1,835/mo
Gap financing: $764/mo
$794less per month with the assumable
Your Savings on This Property
12231 Sleeping Bear, Peyton · 2.96% VA vs 6.5% conventional
$794
per month
$9,530
per year
$285,888
over 30 years
$285,888
interest saved
How gap financing works: The equity gap ($127,572) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($99,322 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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