Loan Comparison: 3.04% vs 6.5%
3954 Bahama Street, Aurora, CO 80013 · 2bd/1ba · $450,000
List Price
$450,000
Assumable Rate
3.04%
Remaining Balance
$386,909
Equity Gap
$63,091
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$63,091
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.04% (VA)
Blended Rate: 3.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.04% + gap loan
$1,923/moAssumed loan: $1,640/mo
Gap financing: $284/mo
$779less per month with the assumable
Your Savings on This Property
3954 Bahama Street, Aurora · 3.04% VA vs 6.5% conventional
$779
per month
$9,344
per year
$280,328
over 30 years
$280,328
interest saved
How gap financing works: The equity gap ($63,091) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($40,591 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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