Loan Comparison: 3.4% vs 6.5%
1180 Vaughn Street, Aurora, CO 80011 · 3bd/2ba · $365,000
List Price
$365,000
Assumable Rate
3.4%
Remaining Balance
$94,964
Equity Gap
$270,036
Loan Type
VAAdjust Your Scenario
$18,250
$18,250$270,036
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.4% (VA)
Blended Rate: 6.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,192/moAssumable @ 3.4% + gap loan
$2,182/moAssumed loan: $421/mo
Gap financing: $1,761/mo
$10less per month with the assumable
Your Savings on This Property
1180 Vaughn Street, Aurora · 3.4% VA vs 6.5% conventional
$10
per month
$120
per year
$3,609
over 30 years
$3,609
interest saved
How gap financing works: The equity gap ($270,036) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,250, 5% of purchase price) and a second mortgage for the rest ($251,786 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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