Loan Comparison: 2.75% vs 6.5%
15839 Arkansas Drive, Aurora, CO 80017 · 3bd/2ba · $515,000
List Price
$515,000
Assumable Rate
2.75%
Remaining Balance
$175,376
Equity Gap
$339,623
Loan Type
VAAdjust Your Scenario
$25,750
$25,750$339,623
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.75% (VA)
Blended Rate: 5.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 2.75% + gap loan
$2,911/moAssumed loan: $716/mo
Gap financing: $2,195/mo
$182less per month with the assumable
Your Savings on This Property
15839 Arkansas Drive, Aurora · 2.75% VA vs 6.5% conventional
$182
per month
$2,181
per year
$65,444
over 30 years
$65,443
interest saved
How gap financing works: The equity gap ($339,623) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($313,873 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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