Loan Comparison: 2.83% vs 6.5%
4052 Argonne, Aurora, CO 80013 · 3bd/2ba · $535,000
List Price
$535,000
Assumable Rate
2.83%
Remaining Balance
$335,673
Equity Gap
$199,327
Loan Type
VAAdjust Your Scenario
$26,750
$26,750$199,327
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,212/moAssumable @ 2.83% + gap loan
$2,712/moAssumed loan: $1,385/mo
Gap financing: $1,327/mo
$501less per month with the assumable
Your Savings on This Property
4052 Argonne, Aurora · 2.83% VA vs 6.5% conventional
$501
per month
$6,011
per year
$180,323
over 30 years
$180,323
interest saved
How gap financing works: The equity gap ($199,327) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,750, 5% of purchase price) and a second mortgage for the rest ($172,577 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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