Loan Comparison: 3.33% vs 6.5%
619 Richfield Street, Aurora, CO 80017 · 4bd/3ba · $430,000
List Price
$430,000
Assumable Rate
3.33%
Remaining Balance
$308,277
Equity Gap
$121,722
Loan Type
VAAdjust Your Scenario
$21,500
$21,500$121,722
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.33% (VA)
Blended Rate: 4.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 3.33% + gap loan
$2,056/moAssumed loan: $1,355/mo
Gap financing: $701/mo
$526less per month with the assumable
Your Savings on This Property
619 Richfield Street, Aurora · 3.33% VA vs 6.5% conventional
$526
per month
$6,312
per year
$189,366
over 30 years
$189,365
interest saved
How gap financing works: The equity gap ($121,722) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,500, 5% of purchase price) and a second mortgage for the rest ($100,222 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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