Loan Comparison: 3.16% vs 6.5%
10324 Biscayne, Peyton, CO 80831 · 5bd/3ba · $629,900
List Price
$629,900
Assumable Rate
3.16%
Remaining Balance
$424,804
Equity Gap
$206,050
Loan Type
VAAdjust Your Scenario
$31,495
$31,495$206,050
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,782/moAssumable @ 3.16% + gap loan
$3,170/moAssumed loan: $1,828/mo
Gap financing: $1,342/mo
$612less per month with the assumable
Your Savings on This Property
10324 Biscayne, Peyton · 3.16% VA vs 6.5% conventional
$612
per month
$7,348
per year
$220,426
over 30 years
$221,380
interest saved
How gap financing works: The equity gap ($206,050) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,495, 5% of purchase price) and a second mortgage for the rest ($174,555 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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