Loan Comparison: 2.88% vs 6.5%
21420 61st, Aurora, CO 80019 · 4bd/5ba · $679,000
List Price
$679,000
Assumable Rate
2.88%
Remaining Balance
$628,808
Equity Gap
$43,173
Loan Type
VAAdjust Your Scenario
$33,950
$33,950$43,173
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 2.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,077/moAssumable @ 2.88% + gap loan
$2,681/moAssumed loan: $2,611/mo
Gap financing: $71/mo
$1,396less per month with the assumable
Your Savings on This Property
21420 61st, Aurora · 2.88% VA vs 6.5% conventional
$1,396
per month
$16,748
per year
$502,445
over 30 years
$495,426
interest saved
How gap financing works: The equity gap ($43,173) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,950, 5% of purchase price) and a second mortgage for the rest ($9,223 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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