Loan Comparison: 2.86% vs 6.5%
2370 Kingston Street, Aurora, CO 80206 · 2bd/3ba · $499,950
List Price
$499,950
Assumable Rate
2.86%
Remaining Balance
$254,456
Equity Gap
$245,493
Loan Type
VAAdjust Your Scenario
$24,998
$24,998$245,493
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.86% (VA)
Blended Rate: 5.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 2.86% + gap loan
$2,595/moAssumed loan: $1,054/mo
Gap financing: $1,542/mo
$407less per month with the assumable
Your Savings on This Property
2370 Kingston Street, Aurora · 2.86% VA vs 6.5% conventional
$407
per month
$4,879
per year
$146,380
over 30 years
$146,378
interest saved
How gap financing works: The equity gap ($245,493) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,998, 5% of purchase price) and a second mortgage for the rest ($220,495 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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