Loan Comparison: 2.97% vs 6.5%
1614 Granby Way, Aurora, CO 80012 · 4bd/3ba · $290,000
List Price
$290,000
Assumable Rate
2.97%
Remaining Balance
$162,431
Equity Gap
$127,568
Loan Type
VAAdjust Your Scenario
$14,500
$14,500$127,568
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.97% (VA)
Blended Rate: 4.83%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,741/moAssumable @ 2.97% + gap loan
$1,473/moAssumed loan: $682/mo
Gap financing: $791/mo
$269less per month with the assumable
Your Savings on This Property
1614 Granby Way, Aurora · 2.97% VA vs 6.5% conventional
$269
per month
$3,223
per year
$96,685
over 30 years
$96,684
interest saved
How gap financing works: The equity gap ($127,568) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,500, 5% of purchase price) and a second mortgage for the rest ($113,068 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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