Loan Comparison: 3.11% vs 6.5%
2682 Cathay Way, Aurora, CO 80013 · 4bd/4ba · $219,500
List Price
$219,500
Assumable Rate
3.11%
Remaining Balance
$171,609
Equity Gap
$47,890
Loan Type
VAAdjust Your Scenario
$10,975
$10,975$47,890
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.11% (VA)
Blended Rate: 3.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,318/moAssumable @ 3.11% + gap loan
$992/moAssumed loan: $734/mo
Gap financing: $258/mo
$326less per month with the assumable
Your Savings on This Property
2682 Cathay Way, Aurora · 3.11% VA vs 6.5% conventional
$326
per month
$3,914
per year
$117,423
over 30 years
$117,422
interest saved
How gap financing works: The equity gap ($47,890) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,975, 5% of purchase price) and a second mortgage for the rest ($36,915 at 7.5%). 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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