Loan Comparison: 3.23% vs 6.5%
10643 Pictured Rocks, Peyton, CO 80831 · 6bd/4ba · $650,000
List Price
$650,000
Assumable Rate
3.23%
Remaining Balance
$373,629
Equity Gap
$276,370
Loan Type
VAAdjust Your Scenario
$32,500
$32,500$276,370
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 5.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 3.23% + gap loan
$3,497/moAssumed loan: $1,622/mo
Gap financing: $1,875/mo
$406less per month with the assumable
Your Savings on This Property
10643 Pictured Rocks, Peyton · 3.23% VA vs 6.5% conventional
$406
per month
$4,871
per year
$146,128
over 30 years
$146,127
interest saved
How gap financing works: The equity gap ($276,370) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($243,870 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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