Loan Comparison: 3.07% vs 6.5%
2536 Peppercorn, Mead, CO 80542 · 4bd/3ba · $540,000
List Price
$540,000
Assumable Rate
3.07%
Remaining Balance
$463,635
Equity Gap
$75,381
Loan Type
VAAdjust Your Scenario
$27,000
$27,000$75,381
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 3.07% + gap loan
$2,344/moAssumed loan: $1,972/mo
Gap financing: $372/mo
$898less per month with the assumable
Your Savings on This Property
2536 Peppercorn, Mead · 3.07% VA vs 6.5% conventional
$898
per month
$10,779
per year
$323,370
over 30 years
$322,386
interest saved
How gap financing works: The equity gap ($75,381) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($48,381 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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