Loan Comparison: 3.45% vs 6.5%
10296 Hidden Park, Peyton, CO 80831 · 4bd/3ba · $520,000
List Price
$520,000
Assumable Rate
3.45%
Remaining Balance
$490,979
Equity Gap
$29,990
Loan Type
VAAdjust Your Scenario
$26,000
$26,000$29,990
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 3.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 3.45% + gap loan
$2,222/moAssumed loan: $2,191/mo
Gap financing: $31/mo
$901less per month with the assumable
Your Savings on This Property
10296 Hidden Park, Peyton · 3.45% VA vs 6.5% conventional
$901
per month
$10,808
per year
$324,253
over 30 years
$325,222
interest saved
How gap financing works: The equity gap ($29,990) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($3,990 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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