Loan Comparison: 2.96% vs 6.5%
4031 Odessa, Aurora, CO 80013 · 4bd/3ba · $589,000
List Price
$589,000
Assumable Rate
2.96%
Remaining Balance
$333,052
Equity Gap
$255,210
Loan Type
VAAdjust Your Scenario
$29,450
$29,450$255,210
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 5.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,537/moAssumable @ 2.96% + gap loan
$3,133/moAssumed loan: $1,397/mo
Gap financing: $1,736/mo
$404less per month with the assumable
Your Savings on This Property
4031 Odessa, Aurora · 2.96% VA vs 6.5% conventional
$404
per month
$4,846
per year
$145,387
over 30 years
$144,649
interest saved
How gap financing works: The equity gap ($255,210) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,450, 5% of purchase price) and a second mortgage for the rest ($225,760 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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