Loan Comparison: 2.99% vs 6.5%
923 Ouray, Aurora, CO 80017 · 4bd/3ba · $525,000
List Price
$525,000
Assumable Rate
2.99%
Remaining Balance
$373,318
Equity Gap
$151,682
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$151,682
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (VA)
Blended Rate: 4.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.99% + gap loan
$2,536/moAssumed loan: $1,572/mo
Gap financing: $964/mo
$616less per month with the assumable
Your Savings on This Property
923 Ouray, Aurora · 2.99% VA vs 6.5% conventional
$616
per month
$7,393
per year
$221,783
over 30 years
$221,783
interest saved
How gap financing works: The equity gap ($151,682) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($125,432 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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