Loan Comparison: 3.07% vs 6.5%
26361 5th Place, Aurora, CO 80018 · 4bd/3ba · $575,000
List Price
$575,000
Assumable Rate
3.07%
Remaining Balance
$482,051
Equity Gap
$92,948
Loan Type
VAAdjust Your Scenario
$28,750
$28,750$92,948
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 3.07% + gap loan
$2,499/moAssumed loan: $2,051/mo
Gap financing: $449/mo
$953less per month with the assumable
Your Savings on This Property
26361 5th Place, Aurora · 3.07% VA vs 6.5% conventional
$953
per month
$11,438
per year
$343,152
over 30 years
$343,151
interest saved
How gap financing works: The equity gap ($92,948) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($64,198 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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