Loan Comparison: 2.6% vs 6.5%
10417 Mt Lincoln, Peyton, CO 80831 · 5bd/4ba · $565,000
List Price
$565,000
Assumable Rate
2.6%
Remaining Balance
$222,874
Equity Gap
$328,838
Loan Type
VAAdjust Your Scenario
$28,250
$28,250$328,838
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.6% (VA)
Blended Rate: 5.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 2.6% + gap loan
$3,204/moAssumed loan: $892/mo
Gap financing: $2,311/mo
$189less per month with the assumable
Your Savings on This Property
10417 Mt Lincoln, Peyton · 2.6% VA vs 6.5% conventional
$189
per month
$2,269
per year
$68,080
over 30 years
$54,792
interest saved
How gap financing works: The equity gap ($328,838) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($300,588 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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