Loan Comparison: 2.74% vs 6.5%
12702 Longview Park, Peyton, CO 80831 · 4bd/4ba · $689,900
List Price
$689,900
Assumable Rate
2.74%
Remaining Balance
$419,906
Equity Gap
$269,994
Loan Type
VAAdjust Your Scenario
$34,495
$34,495$269,994
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 4.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,143/moAssumable @ 2.74% + gap loan
$3,523/moAssumed loan: $1,712/mo
Gap financing: $1,811/mo
$620less per month with the assumable
Your Savings on This Property
12702 Longview Park, Peyton · 2.74% VA vs 6.5% conventional
$620
per month
$7,438
per year
$223,134
over 30 years
$223,134
interest saved
How gap financing works: The equity gap ($269,994) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,495, 5% of purchase price) and a second mortgage for the rest ($235,499 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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