Loan Comparison: 3.16% vs 6.5%
20305 Vassar Avenue, Aurora, CO 80013 · 2bd/2ba · $525,000
List Price
$525,000
Assumable Rate
3.16%
Remaining Balance
$382,637
Equity Gap
$142,362
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$142,362
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 3.16% + gap loan
$2,458/moAssumed loan: $1,646/mo
Gap financing: $812/mo
$694less per month with the assumable
Your Savings on This Property
20305 Vassar Avenue, Aurora · 3.16% VA vs 6.5% conventional
$694
per month
$8,330
per year
$249,894
over 30 years
$249,893
interest saved
How gap financing works: The equity gap ($142,362) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($116,112 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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