Loan Comparison: 2.77% vs 6.5%
1917 Kingston Street, Aurora, CO 80017 · 2bd/1ba · $375,000
List Price
$375,000
Assumable Rate
2.77%
Remaining Balance
$354,934
Equity Gap
$20,066
Loan Type
VAAdjust Your Scenario
$18,750
$18,750$20,066
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 2.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 2.77% + gap loan
$1,462/moAssumed loan: $1,453/mo
Gap financing: $9/mo
$790less per month with the assumable
Your Savings on This Property
1917 Kingston Street, Aurora · 2.77% VA vs 6.5% conventional
$790
per month
$9,477
per year
$284,325
over 30 years
$284,325
interest saved
How gap financing works: The equity gap ($20,066) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($1,316 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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