Loan Comparison: 2.96% vs 6.5%
16655 Alameda, Aurora, CO 80017 · 3bd/3ba · $460,000
List Price
$460,000
Assumable Rate
2.96%
Remaining Balance
$337,410
Equity Gap
$122,590
Loan Type
VAAdjust Your Scenario
$23,000
$23,000$122,590
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 4.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 2.96% + gap loan
$2,181/moAssumed loan: $1,415/mo
Gap financing: $766/mo
$581less per month with the assumable
Your Savings on This Property
16655 Alameda, Aurora · 2.96% VA vs 6.5% conventional
$581
per month
$6,973
per year
$209,200
over 30 years
$209,200
interest saved
How gap financing works: The equity gap ($122,590) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($99,590 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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