Loan Comparison: 4.57% vs 6.5%
14241 1st Drive, Aurora, CO 80011 · 1bd/1ba · $249,999
List Price
$249,999
Assumable Rate
4.57%
Remaining Balance
$147,839
Equity Gap
$102,160
Loan Type
VAAdjust Your Scenario
$12,500
$12,500$102,160
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.57% (VA)
Blended Rate: 5.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,501/moAssumable @ 4.57% + gap loan
$1,382/moAssumed loan: $755/mo
Gap financing: $627/mo
$119less per month with the assumable
Your Savings on This Property
14241 1st Drive, Aurora · 4.57% VA vs 6.5% conventional
$119
per month
$1,428
per year
$42,840
over 30 years
$42,840
interest saved
How gap financing works: The equity gap ($102,160) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,500, 5% of purchase price) and a second mortgage for the rest ($89,660 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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