Loan Comparison: 2.66% vs 6.5%
12293 Mexico Avenue, Aurora, CO 80012 · 3bd/3ba · $400,000
List Price
$400,000
Assumable Rate
2.66%
Remaining Balance
$316,559
Equity Gap
$83,440
Loan Type
VAAdjust Your Scenario
$20,000
$20,000$83,440
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.66% (VA)
Blended Rate: 3.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 2.66% + gap loan
$1,721/moAssumed loan: $1,277/mo
Gap financing: $444/mo
$681less per month with the assumable
Your Savings on This Property
12293 Mexico Avenue, Aurora · 2.66% VA vs 6.5% conventional
$681
per month
$8,172
per year
$245,158
over 30 years
$245,157
interest saved
How gap financing works: The equity gap ($83,440) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($63,440 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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