Loan Comparison: 2.875% vs 6.5%
24777 Alamo, Aurora, CO 80016 · 5bd/3ba · $740,000
List Price
$740,000
Assumable Rate
2.875%
Remaining Balance
$542,495
Equity Gap
$196,247
Loan Type
VAAdjust Your Scenario
$37,000
$37,000$196,247
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.875% (VA)
Blended Rate: 4.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,443/moAssumable @ 2.875% + gap loan
$3,475/moAssumed loan: $2,251/mo
Gap financing: $1,224/mo
$968less per month with the assumable
Your Savings on This Property
24777 Alamo, Aurora · 2.875% VA vs 6.5% conventional
$968
per month
$11,618
per year
$348,550
over 30 years
$347,292
interest saved
How gap financing works: The equity gap ($196,247) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,000, 5% of purchase price) and a second mortgage for the rest ($159,247 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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