Loan Comparison: 2.375% vs 6.5%
24030 Tansy Drive, Aurora, CO 80016 · 4bd/3ba · $899,000
List Price
$899,000
Assumable Rate
2.375%
Remaining Balance
$700,255
Equity Gap
$198,744
Loan Type
VAAdjust Your Scenario
$44,950
$44,950$198,744
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.375% (VA)
Blended Rate: 3.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,398/moAssumable @ 2.375% + gap loan
$3,797/moAssumed loan: $2,722/mo
Gap financing: $1,075/mo
$1,601less per month with the assumable
Your Savings on This Property
24030 Tansy Drive, Aurora · 2.375% VA vs 6.5% conventional
$1,601
per month
$19,215
per year
$576,456
over 30 years
$576,455
interest saved
How gap financing works: The equity gap ($198,744) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($44,950, 5% of purchase price) and a second mortgage for the rest ($153,794 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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