Loan Comparison: 2.94% vs 6.5%
12469 Harvard, Aurora, CO 80014 · 5bd/4ba · $689,900
List Price
$689,900
Assumable Rate
2.94%
Remaining Balance
$349,571
Equity Gap
$340,329
Loan Type
VAAdjust Your Scenario
$34,495
$34,495$340,329
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 5.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,143/moAssumable @ 2.94% + gap loan
$3,814/moAssumed loan: $1,463/mo
Gap financing: $2,352/mo
$328less per month with the assumable
Your Savings on This Property
12469 Harvard, Aurora · 2.94% VA vs 6.5% conventional
$328
per month
$3,942
per year
$118,256
over 30 years
$118,256
interest saved
How gap financing works: The equity gap ($340,329) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,495, 5% of purchase price) and a second mortgage for the rest ($305,834 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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