Loan Comparison: 3.16% vs 6.5%
23920 Easter Place, Aurora, CO 80016 · 4bd/4ba · $665,000
List Price
$665,000
Assumable Rate
3.16%
Remaining Balance
$412,803
Equity Gap
$252,197
Loan Type
VAAdjust Your Scenario
$33,250
$33,250$252,197
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,993/moAssumable @ 3.16% + gap loan
$3,307/moAssumed loan: $1,776/mo
Gap financing: $1,531/mo
$686less per month with the assumable
Your Savings on This Property
23920 Easter Place, Aurora · 3.16% VA vs 6.5% conventional
$686
per month
$8,232
per year
$246,947
over 30 years
$246,947
interest saved
How gap financing works: The equity gap ($252,197) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,250, 5% of purchase price) and a second mortgage for the rest ($218,947 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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