Loan Comparison: 3% vs 6.5%
11073 Asbee, Peyton, CO 80831 · 5bd/3ba · $664,999
List Price
$664,999
Assumable Rate
3%
Remaining Balance
$562,044
Equity Gap
$101,355
Loan Type
VAAdjust Your Scenario
$33,250
$33,250$101,355
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3% (VA)
Blended Rate: 3.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,993/moAssumable @ 3% + gap loan
$2,893/moAssumed loan: $2,370/mo
Gap financing: $524/mo
$1,100less per month with the assumable
Your Savings on This Property
11073 Asbee, Peyton · 3% VA vs 6.5% conventional
$1,100
per month
$13,198
per year
$395,933
over 30 years
$394,333
interest saved
How gap financing works: The equity gap ($101,355) 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 ($68,105 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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