Loan Comparison: 3.19% vs 6.5%
3482 Eagle Street, Aurora, CO 80014 · 2bd/1ba · $233,500
List Price
$233,500
Assumable Rate
3.19%
Remaining Balance
$110,262
Equity Gap
$123,237
Loan Type
VAAdjust Your Scenario
$11,675
$11,675$123,237
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.19% (VA)
Blended Rate: 5.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,402/moAssumable @ 3.19% + gap loan
$1,256/moAssumed loan: $476/mo
Gap financing: $780/mo
$146less per month with the assumable
Your Savings on This Property
3482 Eagle Street, Aurora · 3.19% VA vs 6.5% conventional
$146
per month
$1,749
per year
$52,482
over 30 years
$52,481
interest saved
How gap financing works: The equity gap ($123,237) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,675, 5% of purchase price) and a second mortgage for the rest ($111,562 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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