Loan Comparison: 3.83% vs 6.5%
15254 16th Drive, Aurora, CO 80013 · 2bd/3ba · $350,000
List Price
$350,000
Assumable Rate
3.83%
Remaining Balance
$249,343
Equity Gap
$100,657
Loan Type
VAAdjust Your Scenario
$17,500
$17,500$100,657
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.83% (VA)
Blended Rate: 4.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 3.83% + gap loan
$1,748/moAssumed loan: $1,166/mo
Gap financing: $581/mo
$354less per month with the assumable
Your Savings on This Property
15254 16th Drive, Aurora · 3.83% VA vs 6.5% conventional
$354
per month
$4,249
per year
$127,471
over 30 years
$127,471
interest saved
How gap financing works: The equity gap ($100,657) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($83,157 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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