Loan Comparison: 2.68% vs 6.5%
993 Oakland, Aurora, CO 80012 · 3bd/2ba · $429,000
List Price
$429,000
Assumable Rate
2.68%
Remaining Balance
$362,723
Equity Gap
$65,413
Loan Type
VAAdjust Your Scenario
$21,450
$21,450$65,413
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 3.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,576/moAssumable @ 2.68% + gap loan
$1,805/moAssumed loan: $1,467/mo
Gap financing: $338/mo
$771less per month with the assumable
Your Savings on This Property
993 Oakland, Aurora · 2.68% VA vs 6.5% conventional
$771
per month
$9,247
per year
$277,411
over 30 years
$276,547
interest saved
How gap financing works: The equity gap ($65,413) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,450, 5% of purchase price) and a second mortgage for the rest ($43,963 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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