Loan Comparison: 2.88% vs 6.5%
21420 61st Drive, Aurora, CO 80019 · 4bd/5ba · $669,000
List Price
$669,000
Assumable Rate
2.88%
Remaining Balance
$625,977
Equity Gap
$43,022
Loan Type
VAAdjust Your Scenario
$33,450
$33,450$43,022
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 2.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,017/moAssumable @ 2.88% + gap loan
$2,666/moAssumed loan: $2,599/mo
Gap financing: $67/mo
$1,351less per month with the assumable
Your Savings on This Property
21420 61st Drive, Aurora · 2.88% VA vs 6.5% conventional
$1,351
per month
$16,216
per year
$486,495
over 30 years
$486,494
interest saved
How gap financing works: The equity gap ($43,022) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,450, 5% of purchase price) and a second mortgage for the rest ($9,572 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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