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
$268,496
Equity Gap
$231,503
Loan Type
VAAdjust Your Scenario
$25,000
$25,000$231,503
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
$2,692/moAssumed loan: $1,105/mo
Gap financing: $1,588/mo
$310less per month with the assumable
Your Savings on This Property
17557 Chenango, Aurora · 2.81% VA vs 6.5% conventional
$310
per month
$3,718
per year
$111,539
over 30 years
$111,538
interest saved
How gap financing works: The equity gap ($231,503) 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 ($206,503 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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