Loan Comparison: 4.83% vs 6.5%
12303 Park Lane Drive, Aurora, CO 80011 · 5bd/4ba · $400,000
List Price
$400,000
Assumable Rate
4.83%
Remaining Balance
$164,864
Equity Gap
$235,135
Loan Type
VAAdjust Your Scenario
$20,000
$20,000$235,135
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.83% (VA)
Blended Rate: 6.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 4.83% + gap loan
$2,372/moAssumed loan: $868/mo
Gap financing: $1,504/mo
$30less per month with the assumable
Your Savings on This Property
12303 Park Lane Drive, Aurora · 4.83% VA vs 6.5% conventional
$30
per month
$356
per year
$10,666
over 30 years
$10,665
interest saved
How gap financing works: The equity gap ($235,135) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($215,135 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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