Loan Comparison: 3% vs 6.5%
11073 Asbee, Peyton, CO 80831 · 5bd/3ba · $670,000
List Price
$670,000
Assumable Rate
3%
Remaining Balance
$563,643
Equity Gap
$106,356
Loan Type
VAAdjust Your Scenario
$33,500
$33,500$106,356
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3% (VA)
Blended Rate: 3.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,023/moAssumable @ 3% + gap loan
$2,937/moAssumed loan: $2,376/mo
Gap financing: $560/mo
$1,087less per month with the assumable
Your Savings on This Property
11073 Asbee, Peyton · 3% VA vs 6.5% conventional
$1,087
per month
$13,039
per year
$391,166
over 30 years
$391,165
interest saved
How gap financing works: The equity gap ($106,356) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,500, 5% of purchase price) and a second mortgage for the rest ($72,856 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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