Loan Comparison: 3.1% vs 6.5%
17807 Oakwood Lane, Aurora, CO 80016 · 4bd/2ba · $725,000
List Price
$725,000
Assumable Rate
3.1%
Remaining Balance
$338,158
Equity Gap
$386,841
Loan Type
VAAdjust Your Scenario
$36,250
$36,250$386,841
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 5.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,353/moAssumable @ 3.1% + gap loan
$3,895/moAssumed loan: $1,444/mo
Gap financing: $2,451/mo
$458less per month with the assumable
Your Savings on This Property
17807 Oakwood Lane, Aurora · 3.1% VA vs 6.5% conventional
$458
per month
$5,496
per year
$164,878
over 30 years
$164,877
interest saved
How gap financing works: The equity gap ($386,841) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,250, 5% of purchase price) and a second mortgage for the rest ($350,591 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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