Loan Comparison: 2.31% vs 6.5%
20993 Doane, Aurora, CO 80013 · 4bd/4ba · $635,000
List Price
$635,000
Assumable Rate
2.31%
Remaining Balance
$345,126
Equity Gap
$303,317
Loan Type
VAAdjust Your Scenario
$31,750
$31,750$303,317
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.31% (VA)
Blended Rate: 5.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,813/moAssumable @ 2.31% + gap loan
$3,418/moAssumed loan: $1,330/mo
Gap financing: $2,088/mo
$395less per month with the assumable
Your Savings on This Property
20993 Doane, Aurora · 2.31% VA vs 6.5% conventional
$395
per month
$4,740
per year
$142,206
over 30 years
$155,649
interest saved
How gap financing works: The equity gap ($303,317) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,750, 5% of purchase price) and a second mortgage for the rest ($271,567 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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