Loan Comparison: 2.81% vs 6.5%
372 Lima, Aurora, CO 80010 · 3bd/3ba · $499,000
List Price
$499,000
Assumable Rate
2.81%
Remaining Balance
$398,295
Equity Gap
$123,705
Loan Type
VAAdjust Your Scenario
$24,950
$24,950$123,705
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 3.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 2.81% + gap loan
$2,398/moAssumed loan: $1,639/mo
Gap financing: $759/mo
$598less per month with the assumable
Your Savings on This Property
372 Lima, Aurora · 2.81% VA vs 6.5% conventional
$598
per month
$7,179
per year
$215,384
over 30 years
$238,384
interest saved
How gap financing works: The equity gap ($123,705) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($98,755 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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