Loan Comparison: 3.07% vs 6.5%
4013 Carson Street, Aurora, CO 80014 · 4bd/3ba · $430,000
List Price
$430,000
Assumable Rate
3.07%
Remaining Balance
$387,837
Equity Gap
$42,162
Loan Type
VAAdjust Your Scenario
$21,500
$21,500$42,162
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 3.07% + gap loan
$1,794/moAssumed loan: $1,650/mo
Gap financing: $144/mo
$788less per month with the assumable
Your Savings on This Property
4013 Carson Street, Aurora · 3.07% VA vs 6.5% conventional
$788
per month
$9,453
per year
$283,576
over 30 years
$283,575
interest saved
How gap financing works: The equity gap ($42,162) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,500, 5% of purchase price) and a second mortgage for the rest ($20,662 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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