Loan Comparison: 2.74% vs 6.5%
6420 Ider, Aurora, CO 80016 · 3bd/3ba · $630,000
List Price
$630,000
Assumable Rate
2.74%
Remaining Balance
$436,310
Equity Gap
$192,678
Loan Type
VAAdjust Your Scenario
$31,500
$31,500$192,678
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 4.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,783/moAssumable @ 2.74% + gap loan
$3,018/moAssumed loan: $1,779/mo
Gap financing: $1,239/mo
$765less per month with the assumable
Your Savings on This Property
6420 Ider, Aurora · 2.74% VA vs 6.5% conventional
$765
per month
$9,177
per year
$275,300
over 30 years
$274,288
interest saved
How gap financing works: The equity gap ($192,678) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,500, 5% of purchase price) and a second mortgage for the rest ($161,178 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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