Loan Comparison: 5.87% vs 6.5%
740 Kittredge Street, Aurora, CO 80011 · 3bd/2ba · $430,000
List Price
$430,000
Assumable Rate
5.87%
Remaining Balance
$78,504
Equity Gap
$351,496
Loan Type
VAAdjust Your Scenario
$21,500
$21,500$351,496
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.87% (VA)
Blended Rate: 7.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 5.87% + gap loan
$2,772/moAssumed loan: $464/mo
Gap financing: $2,307/mo
Your Savings on This Property
740 Kittredge Street, Aurora · 5.87% 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 ($351,496) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,500, 5% of purchase price) and a second mortgage for the rest ($329,996 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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