Loan Comparison: 2.94% vs 6.5%
3448 Kalispell, Aurora, CO 80013 · 4bd/2ba · $489,900
List Price
$489,900
Assumable Rate
2.94%
Remaining Balance
$345,502
Equity Gap
$144,398
Loan Type
VAAdjust Your Scenario
$24,495
$24,495$144,398
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 4.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 2.94% + gap loan
$2,367/moAssumed loan: $1,445/mo
Gap financing: $922/mo
$574less per month with the assumable
Your Savings on This Property
3448 Kalispell, Aurora · 2.94% VA vs 6.5% conventional
$574
per month
$6,891
per year
$206,723
over 30 years
$206,723
interest saved
How gap financing works: The equity gap ($144,398) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,495, 5% of purchase price) and a second mortgage for the rest ($119,903 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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