Loan Comparison: 4.19% vs 6.5%
1525 Chester Street, Aurora, CO 80010 · 3bd/3ba · $520,000
List Price
$520,000
Assumable Rate
4.19%
Remaining Balance
$174,869
Equity Gap
$345,130
Loan Type
VAAdjust Your Scenario
$26,000
$26,000$345,130
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.19% (VA)
Blended Rate: 6.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 4.19% + gap loan
$3,086/moAssumed loan: $854/mo
Gap financing: $2,231/mo
$37less per month with the assumable
Your Savings on This Property
1525 Chester Street, Aurora · 4.19% VA vs 6.5% conventional
$37
per month
$443
per year
$13,282
over 30 years
$13,281
interest saved
How gap financing works: The equity gap ($345,130) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($319,130 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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