Loan Comparison: 3.5% vs 6.5%
14241 1st Drive, Aurora, CO 80011 · 2bd/3ba · $260,000
List Price
$260,000
Assumable Rate
3.5%
Remaining Balance
$63,379
Equity Gap
$196,621
Loan Type
VAAdjust Your Scenario
$13,000
$13,000$196,621
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.5% (VA)
Blended Rate: 6.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,561/moAssumable @ 3.5% + gap loan
$1,569/moAssumed loan: $285/mo
Gap financing: $1,284/mo
Your Savings on This Property
14241 1st Drive, Aurora · 3.5% 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 ($196,621) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,000, 5% of purchase price) and a second mortgage for the rest ($183,621 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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