Loan Comparison: 3.06% vs 6.5%
10240 Hidden Park, Peyton, CO 80831 · 3bd/3ba · $515,000
List Price
$515,000
Assumable Rate
3.06%
Remaining Balance
$409,727
Equity Gap
$104,364
Loan Type
VAAdjust Your Scenario
$25,750
$25,750$104,364
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 3.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 3.06% + gap loan
$2,345/moAssumed loan: $1,741/mo
Gap financing: $604/mo
$747less per month with the assumable
Your Savings on This Property
10240 Hidden Park, Peyton · 3.06% VA vs 6.5% conventional
$747
per month
$8,966
per year
$268,994
over 30 years
$268,085
interest saved
How gap financing works: The equity gap ($104,364) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($78,614 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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