Loan Comparison: 2.8% vs 6.5%
984 Victor, Aurora, CO 80012 · 3bd/2ba · $450,000
List Price
$450,000
Assumable Rate
2.8%
Remaining Balance
$334,043
Equity Gap
$139,051
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$139,051
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 4.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 2.8% + gap loan
$2,269/moAssumed loan: $1,373/mo
Gap financing: $896/mo
$433less per month with the assumable
Your Savings on This Property
984 Victor, Aurora · 2.8% VA vs 6.5% conventional
$433
per month
$5,200
per year
$156,006
over 30 years
$179,100
interest saved
How gap financing works: The equity gap ($139,051) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($116,551 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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