Loan Comparison: 2.9% vs 6.5%
1340 Duquesne, Aurora, CO 80018 · 3bd/3ba · $550,000
List Price
$550,000
Assumable Rate
2.9%
Remaining Balance
$423,978
Equity Gap
$126,022
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$126,022
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 2.9% + gap loan
$2,522/moAssumed loan: $1,765/mo
Gap financing: $758/mo
$780less per month with the assumable
Your Savings on This Property
1340 Duquesne, Aurora · 2.9% VA vs 6.5% conventional
$780
per month
$9,363
per year
$280,902
over 30 years
$280,902
interest saved
How gap financing works: The equity gap ($126,022) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($98,522 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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