Loan Comparison: 2.87% vs 6.5%
24500 Alameda Avenue, Aurora, CO 80018 · 4bd/2ba · $610,000
List Price
$610,000
Assumable Rate
2.87%
Remaining Balance
$215,195
Equity Gap
$394,805
Loan Type
VAAdjust Your Scenario
$30,500
$30,500$394,805
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 5.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,663/moAssumable @ 2.87% + gap loan
$3,440/moAssumed loan: $892/mo
Gap financing: $2,547/mo
$223less per month with the assumable
Your Savings on This Property
24500 Alameda Avenue, Aurora · 2.87% VA vs 6.5% conventional
$223
per month
$2,680
per year
$80,391
over 30 years
$80,391
interest saved
How gap financing works: The equity gap ($394,805) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,500, 5% of purchase price) and a second mortgage for the rest ($364,305 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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