Loan Comparison: 2.95% vs 6.5%
3812 Fraser Street, Aurora, CO 80013 · 3bd/3ba · $370,000
List Price
$370,000
Assumable Rate
2.95%
Remaining Balance
$308,253
Equity Gap
$61,746
Loan Type
VAAdjust Your Scenario
$18,500
$18,500$61,746
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.95% (VA)
Blended Rate: 3.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 2.95% + gap loan
$1,594/moAssumed loan: $1,291/mo
Gap financing: $302/mo
$628less per month with the assumable
Your Savings on This Property
3812 Fraser Street, Aurora · 2.95% VA vs 6.5% conventional
$628
per month
$7,536
per year
$226,090
over 30 years
$226,089
interest saved
How gap financing works: The equity gap ($61,746) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($43,246 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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