Loan Comparison: 2.8% vs 6.5%
15165 16th Place, Aurora, CO 80011 · 2bd/1ba · $270,000
List Price
$270,000
Assumable Rate
2.8%
Remaining Balance
$240,261
Equity Gap
$29,738
Loan Type
VAAdjust Your Scenario
$13,500
$13,500$29,738
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 3.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,621/moAssumable @ 2.8% + gap loan
$1,101/moAssumed loan: $987/mo
Gap financing: $114/mo
$520less per month with the assumable
Your Savings on This Property
15165 16th Place, Aurora · 2.8% VA vs 6.5% conventional
$520
per month
$6,246
per year
$187,379
over 30 years
$187,378
interest saved
How gap financing works: The equity gap ($29,738) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,500, 5% of purchase price) and a second mortgage for the rest ($16,238 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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