Loan Comparison: 2.68% vs 6.5%
2682 Cathay Way, Aurora, CO 80013 · 4bd/2ba · $219,500
List Price
$219,500
Assumable Rate
2.68%
Remaining Balance
$171,381
Equity Gap
$48,118
Loan Type
VAAdjust Your Scenario
$10,975
$10,975$48,118
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 3.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,318/moAssumable @ 2.68% + gap loan
$953/moAssumed loan: $693/mo
Gap financing: $260/mo
$365less per month with the assumable
Your Savings on This Property
2682 Cathay Way, Aurora · 2.68% VA vs 6.5% conventional
$365
per month
$4,380
per year
$131,400
over 30 years
$131,399
interest saved
How gap financing works: The equity gap ($48,118) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,975, 5% of purchase price) and a second mortgage for the rest ($37,143 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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