Loan Comparison: 2.375% vs 6.5%
22523 Piccolo Way, Aurora, CO 80016 · 4bd/3ba · $874,900
List Price
$874,900
Assumable Rate
2.375%
Remaining Balance
$306,043
Equity Gap
$568,856
Loan Type
VAAdjust Your Scenario
$43,745
$43,745$568,856
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.375% (VA)
Blended Rate: 5.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,253/moAssumable @ 2.375% + gap loan
$4,861/moAssumed loan: $1,189/mo
Gap financing: $3,672/mo
$392less per month with the assumable
Your Savings on This Property
22523 Piccolo Way, Aurora · 2.375% VA vs 6.5% conventional
$392
per month
$4,708
per year
$141,253
over 30 years
$141,252
interest saved
How gap financing works: The equity gap ($568,856) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($43,745, 5% of purchase price) and a second mortgage for the rest ($525,111 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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