Loan Comparison: 2.97% vs 6.5%
2605 Xanadu, Aurora, CO 80011 · 5bd/2ba · $325,000
List Price
$325,000
Assumable Rate
2.97%
Remaining Balance
$210,215
Equity Gap
$114,785
Loan Type
VAAdjust Your Scenario
$16,250
$16,250$114,785
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.97% (VA)
Blended Rate: 4.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 2.97% + gap loan
$1,641/moAssumed loan: $883/mo
Gap financing: $758/mo
$311less per month with the assumable
Your Savings on This Property
2605 Xanadu, Aurora · 2.97% VA vs 6.5% conventional
$311
per month
$3,732
per year
$111,954
over 30 years
$111,954
interest saved
How gap financing works: The equity gap ($114,785) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($98,535 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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