Loan Comparison: 2.98% vs 6.5%
10952 Checo, Peyton, CO 80831 · 4bd/4ba · $665,000
List Price
$665,000
Assumable Rate
2.98%
Remaining Balance
$372,377
Equity Gap
$291,807
Loan Type
VAAdjust Your Scenario
$33,250
$33,250$291,807
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 5.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,993/moAssumable @ 2.98% + gap loan
$3,554/moAssumed loan: $1,566/mo
Gap financing: $1,988/mo
$439less per month with the assumable
Your Savings on This Property
10952 Checo, Peyton · 2.98% VA vs 6.5% conventional
$439
per month
$5,269
per year
$158,064
over 30 years
$157,248
interest saved
How gap financing works: The equity gap ($291,807) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,250, 5% of purchase price) and a second mortgage for the rest ($258,557 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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