Loan Comparison: 2.96% vs 6.5%
9895 Kings Canyon, Peyton, CO 80831 · 4bd/4ba · $597,900
List Price
$597,900
Assumable Rate
2.96%
Remaining Balance
$455,890
Equity Gap
$142,009
Loan Type
VAAdjust Your Scenario
$29,895
$29,895$142,009
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 4.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,590/moAssumable @ 2.96% + gap loan
$2,774/moAssumed loan: $1,912/mo
Gap financing: $862/mo
$816less per month with the assumable
Your Savings on This Property
9895 Kings Canyon, Peyton · 2.96% VA vs 6.5% conventional
$816
per month
$9,791
per year
$293,720
over 30 years
$293,719
interest saved
How gap financing works: The equity gap ($142,009) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,895, 5% of purchase price) and a second mortgage for the rest ($112,114 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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