Loan Comparison: 2.87% vs 6.5%
10913 Checo, Peyton, CO 80831 · 6bd/4ba · $599,000
List Price
$599,000
Assumable Rate
2.87%
Remaining Balance
$407,340
Equity Gap
$191,660
Loan Type
VAAdjust Your Scenario
$29,950
$29,950$191,660
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 4.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,597/moAssumable @ 2.87% + gap loan
$2,932/moAssumed loan: $1,689/mo
Gap financing: $1,243/mo
$664less per month with the assumable
Your Savings on This Property
10913 Checo, Peyton · 2.87% VA vs 6.5% conventional
$664
per month
$7,973
per year
$239,198
over 30 years
$239,198
interest saved
How gap financing works: The equity gap ($191,660) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,950, 5% of purchase price) and a second mortgage for the rest ($161,710 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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