Loan Comparison: 2.98% vs 6.5%
15429 Oberlin, Aurora, CO 80013 · 3bd/2ba · $325,000
List Price
$325,000
Assumable Rate
2.98%
Remaining Balance
$221,685
Equity Gap
$103,315
Loan Type
VAAdjust Your Scenario
$16,250
$16,250$103,315
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 4.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 2.98% + gap loan
$1,602/moAssumed loan: $932/mo
Gap financing: $669/mo
$350less per month with the assumable
Your Savings on This Property
15429 Oberlin, Aurora · 2.98% VA vs 6.5% conventional
$350
per month
$4,198
per year
$125,932
over 30 years
$125,932
interest saved
How gap financing works: The equity gap ($103,315) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($87,065 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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