Loan Comparison: 2.94% vs 6.5%
3448 Kalispell Street, Aurora, CO 80013 · 4bd/5ba · $485,000
List Price
$485,000
Assumable Rate
2.94%
Remaining Balance
$344,690
Equity Gap
$140,309
Loan Type
VAAdjust Your Scenario
$24,250
$24,250$140,309
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 4.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 2.94% + gap loan
$2,254/moAssumed loan: $1,442/mo
Gap financing: $812/mo
$659less per month with the assumable
Your Savings on This Property
3448 Kalispell Street, Aurora · 2.94% VA vs 6.5% conventional
$659
per month
$7,904
per year
$237,116
over 30 years
$237,115
interest saved
How gap financing works: The equity gap ($140,309) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($116,059 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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