Loan Comparison: 3.23% vs 6.5%
10643 Pictured Rocks, Peyton, CO 80831 · 6bd/4ba · $699,000
List Price
$699,000
Assumable Rate
3.23%
Remaining Balance
$374,479
Equity Gap
$323,673
Loan Type
VAAdjust Your Scenario
$34,950
$34,950$323,673
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 5.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 3.23% + gap loan
$3,846/moAssumed loan: $1,626/mo
Gap financing: $2,220/mo
$352less per month with the assumable
Your Savings on This Property
10643 Pictured Rocks, Peyton · 3.23% VA vs 6.5% conventional
$352
per month
$4,219
per year
$126,565
over 30 years
$125,717
interest saved
How gap financing works: The equity gap ($323,673) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($288,723 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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