Loan Comparison: 2.84% vs 6.5%
4264 Biscay, Aurora, CO 80013 · 4bd/2ba · $490,000
List Price
$490,000
Assumable Rate
2.84%
Remaining Balance
$274,811
Equity Gap
$215,804
Loan Type
VAAdjust Your Scenario
$24,500
$24,500$215,804
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 5.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 2.84% + gap loan
$2,606/moAssumed loan: $1,135/mo
Gap financing: $1,471/mo
$336less per month with the assumable
Your Savings on This Property
4264 Biscay, Aurora · 2.84% VA vs 6.5% conventional
$336
per month
$4,035
per year
$121,060
over 30 years
$121,675
interest saved
How gap financing works: The equity gap ($215,804) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($191,304 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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