Loan Comparison: 3.64% vs 6.5%
711 Troy Court, Aurora, CO 80011 · 4bd/4ba · $395,000
List Price
$395,000
Assumable Rate
3.64%
Remaining Balance
$135,299
Equity Gap
$259,701
Loan Type
VAAdjust Your Scenario
$19,750
$19,750$259,701
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.64% (VA)
Blended Rate: 6.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 3.64% + gap loan
$2,296/moAssumed loan: $618/mo
Gap financing: $1,678/mo
$76less per month with the assumable
Your Savings on This Property
711 Troy Court, Aurora · 3.64% VA vs 6.5% conventional
$76
per month
$911
per year
$27,319
over 30 years
$27,319
interest saved
How gap financing works: The equity gap ($259,701) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($239,951 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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