Loan Comparison: 2.25% vs 6.5%
6915 Fultondale, Aurora, CO 80016 · 5bd/3ba · $800,000
List Price
$800,000
Assumable Rate
2.25%
Remaining Balance
$586,421
Equity Gap
$249,799
Loan Type
VAAdjust Your Scenario
$40,000
$40,000$249,799
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.25% (VA)
Blended Rate: 3.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,804/moAssumable @ 2.25% + gap loan
$3,855/moAssumed loan: $2,242/mo
Gap financing: $1,613/mo
$949less per month with the assumable
Your Savings on This Property
6915 Fultondale, Aurora · 2.25% VA vs 6.5% conventional
$949
per month
$11,388
per year
$341,630
over 30 years
$377,850
interest saved
How gap financing works: The equity gap ($249,799) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,000, 5% of purchase price) and a second mortgage for the rest ($209,799 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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