Loan Comparison: 2.76% vs 6.5%
27560 Lakeview, Aurora, CO 80016 · 3bd/3ba · $1,100,000
List Price
$1,100,000
Assumable Rate
2.76%
Remaining Balance
$858,212
Equity Gap
$241,787
Loan Type
VAAdjust Your Scenario
$55,000
$55,000$241,787
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.76% (VA)
Blended Rate: 3.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,605/moAssumable @ 2.76% + gap loan
$4,944/moAssumed loan: $3,508/mo
Gap financing: $1,436/mo
$1,661less per month with the assumable
Your Savings on This Property
27560 Lakeview, Aurora · 2.76% VA vs 6.5% conventional
$1,661
per month
$19,929
per year
$597,873
over 30 years
$597,872
interest saved
How gap financing works: The equity gap ($241,787) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($55,000, 5% of purchase price) and a second mortgage for the rest ($186,787 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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