Loan Comparison: 2.81% vs 6.5%
3322 Granby, Aurora, CO 80014 · 3bd/3ba · $487,000
List Price
$487,000
Assumable Rate
2.81%
Remaining Balance
$281,361
Equity Gap
$204,993
Loan Type
VAAdjust Your Scenario
$24,350
$24,350$204,993
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 5.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,924/moAssumable @ 2.81% + gap loan
$2,547/moAssumed loan: $1,158/mo
Gap financing: $1,389/mo
$378less per month with the assumable
Your Savings on This Property
3322 Granby, Aurora · 2.81% VA vs 6.5% conventional
$378
per month
$4,532
per year
$135,965
over 30 years
$135,319
interest saved
How gap financing works: The equity gap ($204,993) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,350, 5% of purchase price) and a second mortgage for the rest ($180,643 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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