Loan Comparison: 2.875% vs 6.5%
19732 Bates Drive, Aurora, CO 80013 · 3bd/3ba · $465,000
List Price
$465,000
Assumable Rate
2.875%
Remaining Balance
$333,875
Equity Gap
$131,124
Loan Type
VAAdjust Your Scenario
$23,250
$23,250$131,124
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.875% (VA)
Blended Rate: 4.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 2.875% + gap loan
$2,139/moAssumed loan: $1,385/mo
Gap financing: $754/mo
$653less per month with the assumable
Your Savings on This Property
19732 Bates Drive, Aurora · 2.875% VA vs 6.5% conventional
$653
per month
$7,832
per year
$234,960
over 30 years
$234,959
interest saved
How gap financing works: The equity gap ($131,124) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($107,874 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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