Loan Comparison: 2.97% vs 6.5%
471 Kingston Circle, Aurora, CO 80012 · 3bd/2ba · $480,000
List Price
$480,000
Assumable Rate
2.97%
Remaining Balance
$226,069
Equity Gap
$253,931
Loan Type
VAAdjust Your Scenario
$24,000
$24,000$253,931
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.97% (VA)
Blended Rate: 5.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,882/moAssumable @ 2.97% + gap loan
$2,557/moAssumed loan: $949/mo
Gap financing: $1,608/mo
$325less per month with the assumable
Your Savings on This Property
471 Kingston Circle, Aurora · 2.97% VA vs 6.5% conventional
$325
per month
$3,901
per year
$117,021
over 30 years
$117,021
interest saved
How gap financing works: The equity gap ($253,931) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,000, 5% of purchase price) and a second mortgage for the rest ($229,931 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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