Loan Comparison: 3.6% vs 6.5%
2806 Danube Street, Aurora, CO 80019 · 3bd/3ba · $381,000
List Price
$381,000
Assumable Rate
3.6%
Remaining Balance
$299,871
Equity Gap
$81,128
Loan Type
VAAdjust Your Scenario
$19,050
$19,050$81,128
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.6% (VA)
Blended Rate: 4.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,288/moAssumable @ 3.6% + gap loan
$1,797/moAssumed loan: $1,363/mo
Gap financing: $434/mo
$490less per month with the assumable
Your Savings on This Property
2806 Danube Street, Aurora · 3.6% VA vs 6.5% conventional
$490
per month
$5,884
per year
$176,530
over 30 years
$176,529
interest saved
How gap financing works: The equity gap ($81,128) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,050, 5% of purchase price) and a second mortgage for the rest ($62,078 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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