Loan Comparison: 2.86% vs 6.5%
1956 Danube Way, Aurora, CO 80013 · 2bd/3ba · $485,000
List Price
$485,000
Assumable Rate
2.86%
Remaining Balance
$247,932
Equity Gap
$237,067
Loan Type
VAAdjust Your Scenario
$24,250
$24,250$237,067
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.86% (VA)
Blended Rate: 5.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 2.86% + gap loan
$2,515/moAssumed loan: $1,027/mo
Gap financing: $1,488/mo
$398less per month with the assumable
Your Savings on This Property
1956 Danube Way, Aurora · 2.86% VA vs 6.5% conventional
$398
per month
$4,770
per year
$143,115
over 30 years
$143,114
interest saved
How gap financing works: The equity gap ($237,067) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($212,817 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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