Loan Comparison: 2.25% vs 6.5%
21324 Briarwood, Aurora, CO 80016 · 6bd/5ba · $950,000
List Price
$950,000
Assumable Rate
2.25%
Remaining Balance
$400,000
Equity Gap
$554,392
Loan Type
VAAdjust Your Scenario
$47,500
$47,500$554,392
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.25% (VA)
Blended Rate: 5.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,704/moAssumable @ 2.25% + gap loan
$5,427/moAssumed loan: $1,529/mo
Gap financing: $3,898/mo
$278less per month with the assumable
Your Savings on This Property
21324 Briarwood, Aurora · 2.25% VA vs 6.5% conventional
$278
per month
$3,334
per year
$100,033
over 30 years
$104,425
interest saved
How gap financing works: The equity gap ($554,392) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($47,500, 5% of purchase price) and a second mortgage for the rest ($506,892 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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