Loan Comparison: 2.83% vs 6.5%
7083 Vandriver Court, Aurora, CO 80016 · 5bd/4ba · $950,000
List Price
$950,000
Assumable Rate
2.83%
Remaining Balance
$551,745
Equity Gap
$398,254
Loan Type
VAAdjust Your Scenario
$47,500
$47,500$398,254
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.64%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,704/moAssumable @ 2.83% + gap loan
$4,728/moAssumed loan: $2,276/mo
Gap financing: $2,453/mo
$976less per month with the assumable
Your Savings on This Property
7083 Vandriver Court, Aurora · 2.83% VA vs 6.5% conventional
$976
per month
$11,712
per year
$351,357
over 30 years
$351,356
interest saved
How gap financing works: The equity gap ($398,254) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($47,500, 5% of purchase price) and a second mortgage for the rest ($350,754 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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