Loan Comparison: 2.94% vs 6.5%
1601 Dunkirk, Aurora, CO 80011 · 4bd/2ba · $510,000
List Price
$510,000
Assumable Rate
2.94%
Remaining Balance
$240,330
Equity Gap
$269,670
Loan Type
VAAdjust Your Scenario
$25,500
$25,500$269,670
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 5.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,062/moAssumable @ 2.94% + gap loan
$2,883/moAssumed loan: $1,005/mo
Gap financing: $1,877/mo
$179less per month with the assumable
Your Savings on This Property
1601 Dunkirk, Aurora · 2.94% VA vs 6.5% conventional
$179
per month
$2,153
per year
$64,596
over 30 years
$64,596
interest saved
How gap financing works: The equity gap ($269,670) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,500, 5% of purchase price) and a second mortgage for the rest ($244,170 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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