Loan Comparison: 2.83% vs 6.5%
7083 Vandriver, Aurora, CO 80016 · 5bd/5ba · $950,000
List Price
$950,000
Assumable Rate
2.83%
Remaining Balance
$554,342
Equity Gap
$396,955
Loan Type
VAAdjust Your Scenario
$47,500
$47,500$396,955
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 5.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,704/moAssumable @ 2.83% + gap loan
$4,974/moAssumed loan: $2,287/mo
Gap financing: $2,687/mo
$731less per month with the assumable
Your Savings on This Property
7083 Vandriver, Aurora · 2.83% VA vs 6.5% conventional
$731
per month
$8,770
per year
$263,087
over 30 years
$264,384
interest saved
How gap financing works: The equity gap ($396,955) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($47,500, 5% of purchase price) and a second mortgage for the rest ($349,455 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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