Loan Comparison: 6.11% vs 6.5%
700 Toledo Street, Aurora, CO 80011 · 3bd/3ba · $407,000
List Price
$407,000
Assumable Rate
6.11%
Remaining Balance
$370,353
Equity Gap
$36,646
Loan Type
VAAdjust Your Scenario
$20,350
$20,350$36,646
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.11% (VA)
Blended Rate: 6.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,444/moAssumable @ 6.11% + gap loan
$2,361/moAssumed loan: $2,247/mo
Gap financing: $114/mo
$83less per month with the assumable
Your Savings on This Property
700 Toledo Street, Aurora · 6.11% VA vs 6.5% conventional
$83
per month
$999
per year
$29,964
over 30 years
$29,963
interest saved
How gap financing works: The equity gap ($36,646) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,350, 5% of purchase price) and a second mortgage for the rest ($16,296 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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