Loan Comparison: 4.42% vs 6.5%
24223 41st Avenue, Aurora, CO 80019 · 3bd/3ba · $415,000
List Price
$415,000
Assumable Rate
4.42%
Remaining Balance
$394,115
Equity Gap
$20,885
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$20,885
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.42% (VA)
Blended Rate: 4.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 4.42% + gap loan
$1,979/moAssumed loan: $1,978/mo
Gap financing: $1/mo
$513less per month with the assumable
Your Savings on This Property
24223 41st Avenue, Aurora · 4.42% VA vs 6.5% conventional
$513
per month
$6,153
per year
$184,591
over 30 years
$184,591
interest saved
How gap financing works: The equity gap ($20,885) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($135 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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