Loan Comparison: 2.8% vs 6.5%
1614 Granby Way, Aurora, CO 80011 · 3bd/2ba · $289,900
List Price
$289,900
Assumable Rate
2.8%
Remaining Balance
$189,539
Equity Gap
$100,360
Loan Type
VAAdjust Your Scenario
$14,495
$14,495$100,360
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 4.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,741/moAssumable @ 2.8% + gap loan
$1,379/moAssumed loan: $779/mo
Gap financing: $600/mo
$362less per month with the assumable
Your Savings on This Property
1614 Granby Way, Aurora · 2.8% VA vs 6.5% conventional
$362
per month
$4,339
per year
$130,162
over 30 years
$130,161
interest saved
How gap financing works: The equity gap ($100,360) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,495, 5% of purchase price) and a second mortgage for the rest ($85,865 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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