Loan Comparison: 2.875% vs 6.5%
24777 Alamo, Aurora, CO 80016 · 5bd/3ba · $775,000
List Price
$775,000
Assumable Rate
2.875%
Remaining Balance
$542,542
Equity Gap
$231,247
Loan Type
VAAdjust Your Scenario
$38,750
$38,750$231,247
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.875% (VA)
Blended Rate: 4.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,654/moAssumable @ 2.875% + gap loan
$3,731/moAssumed loan: $2,251/mo
Gap financing: $1,480/mo
$922less per month with the assumable
Your Savings on This Property
24777 Alamo, Aurora · 2.875% VA vs 6.5% conventional
$922
per month
$11,070
per year
$332,100
over 30 years
$330,889
interest saved
How gap financing works: The equity gap ($231,247) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,750, 5% of purchase price) and a second mortgage for the rest ($192,497 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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