Loan Comparison: 2.94% vs 6.5%
5415 Flat Rock, Aurora, CO 80016 · 4bd/4ba · $720,000
List Price
$720,000
Assumable Rate
2.94%
Remaining Balance
$431,975
Equity Gap
$288,025
Loan Type
VAAdjust Your Scenario
$36,000
$36,000$288,025
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 4.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,323/moAssumable @ 2.94% + gap loan
$3,745/moAssumed loan: $1,807/mo
Gap financing: $1,938/mo
$578less per month with the assumable
Your Savings on This Property
5415 Flat Rock, Aurora · 2.94% VA vs 6.5% conventional
$578
per month
$6,939
per year
$208,158
over 30 years
$208,158
interest saved
How gap financing works: The equity gap ($288,025) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,000, 5% of purchase price) and a second mortgage for the rest ($252,025 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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