Loan Comparison: 3.56% vs 6.5%
25830 Byers Place, Aurora, CO 80018 · 2bd/3ba · $450,000
List Price
$450,000
Assumable Rate
3.56%
Remaining Balance
$376,281
Equity Gap
$73,719
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$73,719
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.56% (VA)
Blended Rate: 4.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.56% + gap loan
$2,060/moAssumed loan: $1,702/mo
Gap financing: $358/mo
$642less per month with the assumable
Your Savings on This Property
25830 Byers Place, Aurora · 3.56% VA vs 6.5% conventional
$642
per month
$7,700
per year
$230,998
over 30 years
$230,998
interest saved
How gap financing works: The equity gap ($73,719) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($51,219 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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