Loan Comparison: 2.8% vs 6.5%
19303 College Drive, Aurora, CO 80011 · 2bd/2ba · $249,000
List Price
$249,000
Assumable Rate
2.8%
Remaining Balance
$217,135
Equity Gap
$31,865
Loan Type
VAAdjust Your Scenario
$12,450
$12,450$31,865
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 3.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,495/moAssumable @ 2.8% + gap loan
$1,028/moAssumed loan: $892/mo
Gap financing: $136/mo
$467less per month with the assumable
Your Savings on This Property
19303 College Drive, Aurora · 2.8% VA vs 6.5% conventional
$467
per month
$5,607
per year
$168,195
over 30 years
$168,195
interest saved
How gap financing works: The equity gap ($31,865) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,450, 5% of purchase price) and a second mortgage for the rest ($19,415 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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