Loan Comparison: 2.88% vs 6.5%
20947 Eastman Avenue, Aurora, CO 80238 · 3bd/4ba · $585,000
List Price
$585,000
Assumable Rate
2.88%
Remaining Balance
$337,878
Equity Gap
$247,122
Loan Type
VAAdjust Your Scenario
$29,250
$29,250$247,122
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 4.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 2.88% + gap loan
$2,926/moAssumed loan: $1,403/mo
Gap financing: $1,523/mo
$587less per month with the assumable
Your Savings on This Property
20947 Eastman Avenue, Aurora · 2.88% VA vs 6.5% conventional
$587
per month
$7,039
per year
$211,173
over 30 years
$211,173
interest saved
How gap financing works: The equity gap ($247,122) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($217,872 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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