Loan Comparison: 2.94% vs 6.5%
720 Troy, Aurora, CO 80011 · 3bd/2ba · $439,000
List Price
$439,000
Assumable Rate
2.94%
Remaining Balance
$259,382
Equity Gap
$179,013
Loan Type
VAAdjust Your Scenario
$21,950
$21,950$179,013
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 5.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,636/moAssumable @ 2.94% + gap loan
$2,293/moAssumed loan: $1,085/mo
Gap financing: $1,208/mo
$343less per month with the assumable
Your Savings on This Property
720 Troy, Aurora · 2.94% VA vs 6.5% conventional
$343
per month
$4,118
per year
$123,542
over 30 years
$122,937
interest saved
How gap financing works: The equity gap ($179,013) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,950, 5% of purchase price) and a second mortgage for the rest ($157,063 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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