Loan Comparison: 2.68% vs 6.5%
6641 Kellerman, Aurora, CO 80016 · 5bd/5ba · $750,000
List Price
$750,000
Assumable Rate
2.68%
Remaining Balance
$427,422
Equity Gap
$322,578
Loan Type
VAAdjust Your Scenario
$37,500
$37,500$322,578
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 5.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 2.68% + gap loan
$3,921/moAssumed loan: $1,729/mo
Gap financing: $2,192/mo
$582less per month with the assumable
Your Savings on This Property
6641 Kellerman, Aurora · 2.68% VA vs 6.5% conventional
$582
per month
$6,989
per year
$209,655
over 30 years
$209,655
interest saved
How gap financing works: The equity gap ($322,578) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,500, 5% of purchase price) and a second mortgage for the rest ($285,078 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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