Loan Comparison: 6.11% vs 6.5%
2448 Victor Street, Aurora, CO 80014 · 3bd/3ba · $345,000
List Price
$345,000
Assumable Rate
6.11%
Remaining Balance
$109,458
Equity Gap
$235,542
Loan Type
VAAdjust Your Scenario
$17,250
$17,250$235,542
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.11% (VA)
Blended Rate: 7.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,072/moAssumable @ 6.11% + gap loan
$2,190/moAssumed loan: $664/mo
Gap financing: $1,526/mo
Your Savings on This Property
2448 Victor Street, Aurora · 6.11% 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 ($235,542) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,250, 5% of purchase price) and a second mortgage for the rest ($218,292 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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