Loan Comparison: 3% vs 6.5%
4995 Flanders Court, Aurora, CO 80015 · 1bd/1ba · $495,000
List Price
$495,000
Assumable Rate
3%
Remaining Balance
$40,102
Equity Gap
$454,898
Loan Type
VAAdjust Your Scenario
$24,750
$24,750$454,898
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3% (VA)
Blended Rate: 7.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 3% + gap loan
$3,177/moAssumed loan: $169/mo
Gap financing: $3,008/mo
Your Savings on This Property
4995 Flanders Court, Aurora · 3% 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 ($454,898) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,750, 5% of purchase price) and a second mortgage for the rest ($430,148 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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