Loan Comparison: 2.74% vs 6.5%
4765 Catawba Street, Aurora, CO 80016 · 2bd/2ba · $500,000
List Price
$500,000
Assumable Rate
2.74%
Remaining Balance
$364,412
Equity Gap
$135,587
Loan Type
VAAdjust Your Scenario
$25,000
$25,000$135,587
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 3.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 2.74% + gap loan
$2,259/moAssumed loan: $1,486/mo
Gap financing: $773/mo
$743less per month with the assumable
Your Savings on This Property
4765 Catawba Street, Aurora · 2.74% VA vs 6.5% conventional
$743
per month
$8,920
per year
$267,600
over 30 years
$267,599
interest saved
How gap financing works: The equity gap ($135,587) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($110,587 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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