Loan Comparison: 2.875% vs 6.5%
24777 Alamo Place, Aurora, CO 80016 · 4bd/3ba · $708,000
List Price
$708,000
Assumable Rate
2.875%
Remaining Balance
$538,841
Equity Gap
$169,158
Loan Type
VAAdjust Your Scenario
$35,400
$35,400$169,158
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.875% (VA)
Blended Rate: 3.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,251/moAssumable @ 2.875% + gap loan
$3,171/moAssumed loan: $2,236/mo
Gap financing: $935/mo
$1,080less per month with the assumable
Your Savings on This Property
24777 Alamo Place, Aurora · 2.875% VA vs 6.5% conventional
$1,080
per month
$12,965
per year
$388,952
over 30 years
$388,951
interest saved
How gap financing works: The equity gap ($169,158) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,400, 5% of purchase price) and a second mortgage for the rest ($133,758 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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