Loan Comparison: 2.89% vs 6.5%
20947 Eastman, Aurora, CO 80013 · 5bd/3ba · $585,000
List Price
$585,000
Assumable Rate
2.89%
Remaining Balance
$342,727
Equity Gap
$242,272
Loan Type
VAAdjust Your Scenario
$29,250
$29,250$242,272
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 5.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 2.89% + gap loan
$3,063/moAssumed loan: $1,425/mo
Gap financing: $1,638/mo
$450less per month with the assumable
Your Savings on This Property
20947 Eastman, Aurora · 2.89% VA vs 6.5% conventional
$450
per month
$5,401
per year
$162,023
over 30 years
$162,022
interest saved
How gap financing works: The equity gap ($242,272) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($213,022 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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