Loan Comparison: 2.87% vs 6.5%
9288 Rockingham, Peyton, CO 80831 · 5bd/4ba · $650,000
List Price
$650,000
Assumable Rate
2.87%
Remaining Balance
$446,969
Equity Gap
$205,000
Loan Type
VAAdjust Your Scenario
$32,500
$32,500$205,000
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 4.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 2.87% + gap loan
$3,180/moAssumed loan: $1,853/mo
Gap financing: $1,326/mo
$723less per month with the assumable
Your Savings on This Property
9288 Rockingham, Peyton · 2.87% VA vs 6.5% conventional
$723
per month
$8,681
per year
$260,423
over 30 years
$262,392
interest saved
How gap financing works: The equity gap ($205,000) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($172,500 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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