Loan Comparison: 2.88% vs 6.5%
21420 61st, Aurora, CO 80019 · 4bd/5ba · $765,000
List Price
$765,000
Assumable Rate
2.88%
Remaining Balance
$633,029
Equity Gap
$129,173
Loan Type
VAAdjust Your Scenario
$38,250
$38,250$129,173
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 3.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,594/moAssumable @ 2.88% + gap loan
$3,327/moAssumed loan: $2,628/mo
Gap financing: $699/mo
$1,266less per month with the assumable
Your Savings on This Property
21420 61st, Aurora · 2.88% VA vs 6.5% conventional
$1,266
per month
$15,196
per year
$455,887
over 30 years
$453,089
interest saved
How gap financing works: The equity gap ($129,173) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,250, 5% of purchase price) and a second mortgage for the rest ($90,923 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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