Loan Comparison: 2.15% vs 6.5%
7218 Ukraine, Aurora, CO 80016 · 4bd/3ba · $759,900
List Price
$759,900
Assumable Rate
2.15%
Remaining Balance
$327,497
Equity Gap
$432,403
Loan Type
VAAdjust Your Scenario
$37,995
$37,995$432,403
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.15% (VA)
Blended Rate: 5.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,563/moAssumable @ 2.15% + gap loan
$4,268/moAssumed loan: $1,235/mo
Gap financing: $3,033/mo
$295less per month with the assumable
Your Savings on This Property
7218 Ukraine, Aurora · 2.15% VA vs 6.5% conventional
$295
per month
$3,541
per year
$106,225
over 30 years
$106,225
interest saved
How gap financing works: The equity gap ($432,403) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,995, 5% of purchase price) and a second mortgage for the rest ($394,408 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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