Loan Comparison: 2.96% vs 6.5%
3750 Genoa Circle, Aurora, CO 80013 · 4bd/3ba · $379,000
List Price
$379,000
Assumable Rate
2.96%
Remaining Balance
$269,393
Equity Gap
$109,606
Loan Type
VAAdjust Your Scenario
$18,950
$18,950$109,606
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 4.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,276/moAssumable @ 2.96% + gap loan
$1,764/moAssumed loan: $1,130/mo
Gap financing: $634/mo
$512less per month with the assumable
Your Savings on This Property
3750 Genoa Circle, Aurora · 2.96% VA vs 6.5% conventional
$512
per month
$6,143
per year
$184,289
over 30 years
$184,288
interest saved
How gap financing works: The equity gap ($109,606) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,950, 5% of purchase price) and a second mortgage for the rest ($90,656 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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