Loan Comparison: 4.26% vs 6.5%
2357 Nome Street, Aurora, CO 80010 · 3bd/3ba · $420,000
List Price
$420,000
Assumable Rate
4.26%
Remaining Balance
$74,989
Equity Gap
$345,011
Loan Type
VAAdjust Your Scenario
$21,000
$21,000$345,011
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.26% (VA)
Blended Rate: 6.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 4.26% + gap loan
$2,635/moAssumed loan: $369/mo
Gap financing: $2,266/mo
Your Savings on This Property
2357 Nome Street, Aurora · 4.26% 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 ($345,011) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($324,011 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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