Loan Comparison: 2.81% vs 6.5%
17557 Chenango, Aurora, CO 80015 · 5bd/2ba · $500,000
List Price
$500,000
Assumable Rate
2.81%
Remaining Balance
$269,110
Equity Gap
$230,890
Loan Type
VAAdjust Your Scenario
$25,000
$25,000$230,890
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 5.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 2.81% + gap loan
$2,690/moAssumed loan: $1,107/mo
Gap financing: $1,583/mo
$312less per month with the assumable
Your Savings on This Property
17557 Chenango, Aurora · 2.81% VA vs 6.5% conventional
$312
per month
$3,744
per year
$112,326
over 30 years
$112,326
interest saved
How gap financing works: The equity gap ($230,890) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($205,890 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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