Loan Comparison: 2.81% vs 6.5%
200 Langdale Court, Aurora, CO 80018 · 2bd/2ba · $495,000
List Price
$495,000
Assumable Rate
2.81%
Remaining Balance
$410,875
Equity Gap
$84,124
Loan Type
VAAdjust Your Scenario
$24,750
$24,750$84,124
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 3.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 2.81% + gap loan
$2,106/moAssumed loan: $1,690/mo
Gap financing: $415/mo
$867less per month with the assumable
Your Savings on This Property
200 Langdale Court, Aurora · 2.81% VA vs 6.5% conventional
$867
per month
$10,400
per year
$312,012
over 30 years
$312,011
interest saved
How gap financing works: The equity gap ($84,124) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,750, 5% of purchase price) and a second mortgage for the rest ($59,374 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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