Loan Comparison: 2.8% vs 6.5%
984 Victor Way, Aurora, CO 80012 · 4bd/2ba · $445,000
List Price
$445,000
Assumable Rate
2.8%
Remaining Balance
$310,037
Equity Gap
$134,963
Loan Type
VAAdjust Your Scenario
$22,250
$22,250$134,963
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 4.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,672/moAssumable @ 2.8% + gap loan
$2,062/moAssumed loan: $1,274/mo
Gap financing: $788/mo
$610less per month with the assumable
Your Savings on This Property
984 Victor Way, Aurora · 2.8% VA vs 6.5% conventional
$610
per month
$7,320
per year
$219,613
over 30 years
$219,613
interest saved
How gap financing works: The equity gap ($134,963) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,250, 5% of purchase price) and a second mortgage for the rest ($112,713 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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