Loan Comparison: 2.55% vs 6.5%
25774 1st Place, Aurora, CO 80239 · 3bd/2ba · $575,000
List Price
$575,000
Assumable Rate
2.55%
Remaining Balance
$364,742
Equity Gap
$210,258
Loan Type
VAAdjust Your Scenario
$28,750
$28,750$210,258
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.55% (VA)
Blended Rate: 4.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 2.55% + gap loan
$2,720/moAssumed loan: $1,451/mo
Gap financing: $1,269/mo
$733less per month with the assumable
Your Savings on This Property
25774 1st Place, Aurora · 2.55% VA vs 6.5% conventional
$733
per month
$8,794
per year
$263,833
over 30 years
$263,833
interest saved
How gap financing works: The equity gap ($210,258) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($181,508 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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