Loan Comparison: 3.11% vs 6.5%
23963 2nd Drive, Aurora, CO 80014 · 4bd/4ba · $610,000
List Price
$610,000
Assumable Rate
3.11%
Remaining Balance
$518,956
Equity Gap
$91,044
Loan Type
VAAdjust Your Scenario
$30,500
$30,500$91,044
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.11% (VA)
Blended Rate: 3.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,663/moAssumable @ 3.11% + gap loan
$2,642/moAssumed loan: $2,219/mo
Gap financing: $423/mo
$1,021less per month with the assumable
Your Savings on This Property
23963 2nd Drive, Aurora · 3.11% VA vs 6.5% conventional
$1,021
per month
$12,248
per year
$367,436
over 30 years
$367,436
interest saved
How gap financing works: The equity gap ($91,044) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,500, 5% of purchase price) and a second mortgage for the rest ($60,544 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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