Loan Comparison: 7.19% vs 6.5%
1501 Dawson Street, Aurora, CO 80012 · 2bd/2ba · $460,000
List Price
$460,000
Assumable Rate
7.19%
Remaining Balance
$16,017
Equity Gap
$443,982
Loan Type
VAAdjust Your Scenario
$23,000
$23,000$443,982
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.19% (VA)
Blended Rate: 7.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 7.19% + gap loan
$3,052/moAssumed loan: $109/mo
Gap financing: $2,944/mo
Your Savings on This Property
1501 Dawson Street, Aurora · 7.19% 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 ($443,982) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($420,982 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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