Loan Comparison: 6.39% vs 6.5%
3836 Catawba Way, Aurora, CO 80014 · 2bd/2ba · $629,000
List Price
$629,000
Assumable Rate
6.39%
Remaining Balance
$576,721
Equity Gap
$52,279
Loan Type
VAAdjust Your Scenario
$31,450
$31,450$52,279
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.39% (VA)
Blended Rate: 6.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,777/moAssumable @ 6.39% + gap loan
$3,749/moAssumed loan: $3,604/mo
Gap financing: $146/mo
$28less per month with the assumable
Your Savings on This Property
3836 Catawba Way, Aurora · 6.39% VA vs 6.5% conventional
$28
per month
$332
per year
$9,948
over 30 years
$9,948
interest saved
How gap financing works: The equity gap ($52,279) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,450, 5% of purchase price) and a second mortgage for the rest ($20,829 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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