Loan Comparison: 2.98% vs 6.5%
1781 Oakland, Aurora, CO 80010 · 4bd/1ba · $385,000
List Price
$385,000
Assumable Rate
2.98%
Remaining Balance
$226,397
Equity Gap
$158,603
Loan Type
VAAdjust Your Scenario
$19,250
$19,250$158,603
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 5.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,312/moAssumable @ 2.98% + gap loan
$2,024/moAssumed loan: $952/mo
Gap financing: $1,072/mo
$288less per month with the assumable
Your Savings on This Property
1781 Oakland, Aurora · 2.98% VA vs 6.5% conventional
$288
per month
$3,459
per year
$103,761
over 30 years
$103,761
interest saved
How gap financing works: The equity gap ($158,603) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,250, 5% of purchase price) and a second mortgage for the rest ($139,353 at 8.5%). 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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