Loan Comparison: 6.89% vs 6.5%
3176 Idalia Street, Aurora, CO 80013 · 5bd/4ba · $465,000
List Price
$465,000
Assumable Rate
6.89%
Remaining Balance
$331,663
Equity Gap
$133,337
Loan Type
VAAdjust Your Scenario
$23,250
$23,250$133,337
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.89% (VA)
Blended Rate: 7.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 6.89% + gap loan
$2,952/moAssumed loan: $2,182/mo
Gap financing: $770/mo
Your Savings on This Property
3176 Idalia Street, Aurora · 6.89% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($133,337) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($110,087 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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