Loan Comparison: 2.96% vs 6.5%
9895 Kings Canyon, Peyton, CO 80831 · 4bd/4ba · $599,900
List Price
$599,900
Assumable Rate
2.96%
Remaining Balance
$456,911
Equity Gap
$142,989
Loan Type
VAAdjust Your Scenario
$29,995
$29,995$142,989
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 4.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,602/moAssumable @ 2.96% + gap loan
$2,785/moAssumed loan: $1,917/mo
Gap financing: $869/mo
$817less per month with the assumable
Your Savings on This Property
9895 Kings Canyon, Peyton · 2.96% VA vs 6.5% conventional
$817
per month
$9,802
per year
$294,066
over 30 years
$294,066
interest saved
How gap financing works: The equity gap ($142,989) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,995, 5% of purchase price) and a second mortgage for the rest ($112,994 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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