Loan Comparison: 2.94% vs 6.5%
915 Newark, Aurora, CO 80010 · 2bd/1ba · $357,500
List Price
$357,500
Assumable Rate
2.94%
Remaining Balance
$228,846
Equity Gap
$128,123
Loan Type
VAAdjust Your Scenario
$17,875
$17,875$128,123
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 4.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,147/moAssumable @ 2.94% + gap loan
$1,805/moAssumed loan: $957/mo
Gap financing: $848/mo
$342less per month with the assumable
Your Savings on This Property
915 Newark, Aurora · 2.94% VA vs 6.5% conventional
$342
per month
$4,098
per year
$122,945
over 30 years
$122,414
interest saved
How gap financing works: The equity gap ($128,123) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,875, 5% of purchase price) and a second mortgage for the rest ($110,248 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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