Loan Comparison: 2.86% vs 6.5%
10932 Checo, Peyton, CO 80831 · 3bd/3ba · $475,000
List Price
$475,000
Assumable Rate
2.86%
Remaining Balance
$404,616
Equity Gap
$71,292
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$71,292
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.86% (VA)
Blended Rate: 3.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 2.86% + gap loan
$2,041/moAssumed loan: $1,675/mo
Gap financing: $366/mo
$811less per month with the assumable
Your Savings on This Property
10932 Checo, Peyton · 2.86% VA vs 6.5% conventional
$811
per month
$9,734
per year
$292,022
over 30 years
$292,930
interest saved
How gap financing works: The equity gap ($71,292) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($47,542 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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