Loan Comparison: 2.5% vs 6.5%
27089 Cedar Avenue, Aurora, CO 80018 · 2bd/1ba · $510,000
List Price
$510,000
Assumable Rate
2.5%
Remaining Balance
$375,636
Equity Gap
$134,364
Loan Type
VAAdjust Your Scenario
$25,500
$25,500$134,364
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.5% (VA)
Blended Rate: 3.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,062/moAssumable @ 2.5% + gap loan
$2,245/moAssumed loan: $1,484/mo
Gap financing: $761/mo
$817less per month with the assumable
Your Savings on This Property
27089 Cedar Avenue, Aurora · 2.5% VA vs 6.5% conventional
$817
per month
$9,804
per year
$294,106
over 30 years
$294,106
interest saved
How gap financing works: The equity gap ($134,364) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,500, 5% of purchase price) and a second mortgage for the rest ($108,864 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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