Loan Comparison: 2.15% vs 6.5%
17423 Prentice, Aurora, CO 80015 · 5bd/2ba · $520,000
List Price
$520,000
Assumable Rate
2.15%
Remaining Balance
$276,125
Equity Gap
$313,368
Loan Type
VAAdjust Your Scenario
$26,000
$26,000$313,368
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.15% (VA)
Blended Rate: 5.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 2.15% + gap loan
$3,251/moAssumed loan: $1,041/mo
Gap financing: $2,210/mo
Your Savings on This Property
17423 Prentice, Aurora · 2.15% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$23,181
interest saved
How gap financing works: The equity gap ($313,368) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($287,368 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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