Loan Comparison: 6.22% vs 6.5%
8901 Ukraine Court, Aurora, CO 80016 ยท 3bd/3ba ยท $799,000
List Price
$799,000
Assumable Rate
6.22%
Remaining Balance
$693,861
Equity Gap
$105,139
Loan Type
VAAdjust Your Scenario
$39,950
$39,950$105,139
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.22% (VA)
Blended Rate: 6.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,798/moAssumable @ 6.22% + gap loan
$4,715/moAssumed loan: $4,259/mo
Gap financing: $456/mo
$83less per month with the assumable
Your Savings on This Property
8901 Ukraine Court, Aurora ยท 6.22% VA vs 6.5% conventional
$83
per month
$999
per year
$29,955
over 30 years
$29,955
interest saved
How gap financing works: The equity gap ($105,139) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,950, 5% of purchase price) and a second mortgage for the rest ($65,189 at 7.5%). 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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