Loan Comparison: 2.15% vs 6.5%
7218 Ukraine, Aurora, CO 80016 · 4bd/3ba · $769,900
List Price
$769,900
Assumable Rate
2.15%
Remaining Balance
$326,452
Equity Gap
$442,403
Loan Type
VAAdjust Your Scenario
$38,495
$38,495$442,403
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.15% (VA)
Blended Rate: 5.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,623/moAssumable @ 2.15% + gap loan
$4,337/moAssumed loan: $1,231/mo
Gap financing: $3,106/mo
$286less per month with the assumable
Your Savings on This Property
7218 Ukraine, Aurora · 2.15% VA vs 6.5% conventional
$286
per month
$3,432
per year
$102,963
over 30 years
$101,918
interest saved
How gap financing works: The equity gap ($442,403) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,495, 5% of purchase price) and a second mortgage for the rest ($403,908 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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