Loan Comparison: 2.81% vs 6.5%
22268 45th, Aurora, CO 80019 · 4bd/3ba · $675,000
List Price
$675,000
Assumable Rate
2.81%
Remaining Balance
$517,994
Equity Gap
$191,436
Loan Type
VAAdjust Your Scenario
$33,750
$33,750$191,436
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 4.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,053/moAssumable @ 2.81% + gap loan
$3,344/moAssumed loan: $2,131/mo
Gap financing: $1,212/mo
$710less per month with the assumable
Your Savings on This Property
22268 45th, Aurora · 2.81% VA vs 6.5% conventional
$710
per month
$8,514
per year
$255,421
over 30 years
$289,851
interest saved
How gap financing works: The equity gap ($191,436) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,750, 5% of purchase price) and a second mortgage for the rest ($157,686 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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