Loan Comparison: 2.88% vs 6.5%
16540 Mesquite, Peyton, CO 80831 · 7bd/5ba · $1,099,999
List Price
$1,099,999
Assumable Rate
2.88%
Remaining Balance
$850,787
Equity Gap
$247,356
Loan Type
VAAdjust Your Scenario
$55,000
$55,000$247,356
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 3.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,605/moAssumable @ 2.88% + gap loan
$5,011/moAssumed loan: $3,532/mo
Gap financing: $1,479/mo
$1,594less per month with the assumable
Your Savings on This Property
16540 Mesquite, Peyton · 2.88% VA vs 6.5% conventional
$1,594
per month
$19,127
per year
$573,814
over 30 years
$571,958
interest saved
How gap financing works: The equity gap ($247,356) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($55,000, 5% of purchase price) and a second mortgage for the rest ($192,356 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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