Loan Comparison: 2.74% vs 6.5%
4765 Catawba, Aurora, CO 80016 · 3bd/3ba · $550,000
List Price
$550,000
Assumable Rate
2.74%
Remaining Balance
$367,860
Equity Gap
$182,139
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$182,139
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 4.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 2.74% + gap loan
$2,689/moAssumed loan: $1,500/mo
Gap financing: $1,189/mo
$614less per month with the assumable
Your Savings on This Property
4765 Catawba, Aurora · 2.74% VA vs 6.5% conventional
$614
per month
$7,364
per year
$220,935
over 30 years
$220,934
interest saved
How gap financing works: The equity gap ($182,139) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($154,639 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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