Loan Comparison: 2.84% vs 6.5%
769 Troy, Aurora, CO 80011 · 3bd/2ba · $475,000
List Price
$475,000
Assumable Rate
2.84%
Remaining Balance
$250,134
Equity Gap
$224,866
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$224,866
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 5.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 2.84% + gap loan
$2,580/moAssumed loan: $1,033/mo
Gap financing: $1,546/mo
$273less per month with the assumable
Your Savings on This Property
769 Troy, Aurora · 2.84% VA vs 6.5% conventional
$273
per month
$3,272
per year
$98,167
over 30 years
$98,167
interest saved
How gap financing works: The equity gap ($224,866) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($201,116 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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