Loan Comparison: 6.29% vs 6.5%

93 Sable Boulevard, Aurora, CO 80012 ยท 3bd/3ba ยท $139,000

List Price
$139,000
Assumable Rate
6.29%
Remaining Balance
$27,938
Equity Gap
$111,061
Loan Type
VA

Adjust Your Scenario

$6,950
$6,950$111,061
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.29% (VA)
Blended Rate: 7.24%

Monthly Payment Comparison

New Conventional @ 6.5%
$835/mo
Assumable @ 6.29% + gap loan
$901/mo
Assumed loan: $173/mo
Gap financing: $728/mo

Your Savings on This Property

93 Sable Boulevard, Aurora ยท 6.29% 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 ($111,061) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($6,950, 5% of purchase price) and a second mortgage for the rest ($104,111 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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