Loan Comparison: 2.68% vs 6.5%
2682 Cathay, Aurora, CO 80013 · 1bd/1ba · $224,500
List Price
$224,500
Assumable Rate
2.68%
Remaining Balance
$172,147
Equity Gap
$52,735
Loan Type
VAAdjust Your Scenario
$11,225
$11,225$52,735
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 3.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,348/moAssumable @ 2.68% + gap loan
$1,016/moAssumed loan: $696/mo
Gap financing: $319/mo
$332less per month with the assumable
Your Savings on This Property
2682 Cathay, Aurora · 2.68% VA vs 6.5% conventional
$332
per month
$3,990
per year
$119,685
over 30 years
$120,067
interest saved
How gap financing works: The equity gap ($52,735) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,225, 5% of purchase price) and a second mortgage for the rest ($41,510 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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