Loan Comparison: 2.9% vs 6.5%
4607 Ivory Circle, Aurora, CO 80134 · 5bd/4ba · $450,000
List Price
$450,000
Assumable Rate
2.9%
Remaining Balance
$237,723
Equity Gap
$212,277
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$212,277
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 4.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 2.9% + gap loan
$2,316/moAssumed loan: $989/mo
Gap financing: $1,327/mo
$386less per month with the assumable
Your Savings on This Property
4607 Ivory Circle, Aurora · 2.9% VA vs 6.5% conventional
$386
per month
$4,628
per year
$138,841
over 30 years
$138,841
interest saved
How gap financing works: The equity gap ($212,277) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($189,777 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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