Loan Comparison: 3.23% vs 6.5%
11797 Cedar Avenue, Aurora, CO 80012 · 3bd/2ba · $249,000
List Price
$249,000
Assumable Rate
3.23%
Remaining Balance
$142,211
Equity Gap
$106,788
Loan Type
VAAdjust Your Scenario
$12,450
$12,450$106,788
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 4.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,495/moAssumable @ 3.23% + gap loan
$1,277/moAssumed loan: $617/mo
Gap financing: $660/mo
$218less per month with the assumable
Your Savings on This Property
11797 Cedar Avenue, Aurora · 3.23% VA vs 6.5% conventional
$218
per month
$2,618
per year
$78,545
over 30 years
$78,544
interest saved
How gap financing works: The equity gap ($106,788) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,450, 5% of purchase price) and a second mortgage for the rest ($94,338 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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