Loan Comparison: 3.76% vs 6.5%
24231 40th Avenue, Aurora, CO 80019 · 10bd/5ba · $549,900
List Price
$549,900
Assumable Rate
3.76%
Remaining Balance
$440,157
Equity Gap
$109,742
Loan Type
VAAdjust Your Scenario
$27,495
$27,495$109,742
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (VA)
Blended Rate: 4.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,302/moAssumable @ 3.76% + gap loan
$2,616/moAssumed loan: $2,041/mo
Gap financing: $575/mo
$686less per month with the assumable
Your Savings on This Property
24231 40th Avenue, Aurora · 3.76% VA vs 6.5% conventional
$686
per month
$8,231
per year
$246,938
over 30 years
$246,937
interest saved
How gap financing works: The equity gap ($109,742) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,495, 5% of purchase price) and a second mortgage for the rest ($82,247 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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