Loan Comparison: 2.96% vs 6.5%
3750 Genoa, Aurora, CO 80013 · 4bd/2ba · $400,000
List Price
$400,000
Assumable Rate
2.96%
Remaining Balance
$271,843
Equity Gap
$128,157
Loan Type
VAAdjust Your Scenario
$20,000
$20,000$128,157
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 4.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 2.96% + gap loan
$1,972/moAssumed loan: $1,140/mo
Gap financing: $832/mo
$430less per month with the assumable
Your Savings on This Property
3750 Genoa, Aurora · 2.96% VA vs 6.5% conventional
$430
per month
$5,160
per year
$154,793
over 30 years
$154,793
interest saved
How gap financing works: The equity gap ($128,157) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($108,157 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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