Loan Comparison: 2.96% vs 6.5%
3750 Genoa, Aurora, CO 80013 · 4bd/2ba · $389,000
List Price
$389,000
Assumable Rate
2.96%
Remaining Balance
$271,232
Equity Gap
$117,767
Loan Type
VAAdjust Your Scenario
$19,450
$19,450$117,767
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 4.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,336/moAssumable @ 2.96% + gap loan
$1,894/moAssumed loan: $1,138/mo
Gap financing: $756/mo
$442less per month with the assumable
Your Savings on This Property
3750 Genoa, Aurora · 2.96% VA vs 6.5% conventional
$442
per month
$5,306
per year
$159,175
over 30 years
$159,174
interest saved
How gap financing works: The equity gap ($117,767) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,450, 5% of purchase price) and a second mortgage for the rest ($98,317 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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