Loan Comparison: 3.44% vs 6.5%
16497 Vassar Avenue, Aurora, CO 80013 · 3bd/3ba · $450,000
List Price
$450,000
Assumable Rate
3.44%
Remaining Balance
$191,046
Equity Gap
$258,954
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$258,954
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.44% (VA)
Blended Rate: 5.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.44% + gap loan
$2,505/moAssumed loan: $851/mo
Gap financing: $1,653/mo
$197less per month with the assumable
Your Savings on This Property
16497 Vassar Avenue, Aurora · 3.44% VA vs 6.5% conventional
$197
per month
$2,367
per year
$71,019
over 30 years
$71,019
interest saved
How gap financing works: The equity gap ($258,954) 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 ($236,454 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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