Loan Comparison: 2.88% vs 6.5%
21420 61st, Aurora, CO 80019 · 4bd/5ba · $775,000
List Price
$775,000
Assumable Rate
2.88%
Remaining Balance
$634,429
Equity Gap
$140,570
Loan Type
VAAdjust Your Scenario
$38,750
$38,750$140,570
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 3.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,654/moAssumable @ 2.88% + gap loan
$3,417/moAssumed loan: $2,634/mo
Gap financing: $783/mo
$1,237less per month with the assumable
Your Savings on This Property
21420 61st, Aurora · 2.88% VA vs 6.5% conventional
$1,237
per month
$14,842
per year
$445,248
over 30 years
$445,247
interest saved
How gap financing works: The equity gap ($140,570) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,750, 5% of purchase price) and a second mortgage for the rest ($101,820 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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