Loan Comparison: 6.42% vs 6.5%
44 Trussville Street, Aurora, CO 80018 · 1bd/1ba · $405,000
List Price
$405,000
Assumable Rate
6.42%
Remaining Balance
$373,195
Equity Gap
$31,804
Loan Type
VAAdjust Your Scenario
$20,250
$20,250$31,804
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.42% (VA)
Blended Rate: 6.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,432/moAssumable @ 6.42% + gap loan
$2,420/moAssumed loan: $2,339/mo
Gap financing: $81/mo
$12less per month with the assumable
Your Savings on This Property
44 Trussville Street, Aurora · 6.42% VA vs 6.5% conventional
$12
per month
$142
per year
$4,265
over 30 years
$4,264
interest saved
How gap financing works: The equity gap ($31,804) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,250, 5% of purchase price) and a second mortgage for the rest ($11,554 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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