Loan Comparison: 6.88% vs 6.5%
24742 Tennessee Avenue, Aurora, CO 80018 · 4bd/3ba · $570,000
List Price
$570,000
Assumable Rate
6.88%
Remaining Balance
$476,329
Equity Gap
$93,671
Loan Type
VAAdjust Your Scenario
$28,500
$28,500$93,671
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.88% (VA)
Blended Rate: 6.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,423/moAssumable @ 6.88% + gap loan
$3,586/moAssumed loan: $3,131/mo
Gap financing: $456/mo
Your Savings on This Property
24742 Tennessee Avenue, Aurora · 6.88% 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 ($93,671) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,500, 5% of purchase price) and a second mortgage for the rest ($65,171 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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