Loan Comparison: 3.07% vs 6.5%
12061 3rd, Aurora, CO 80011 · 2bd/2ba · $285,000
List Price
$285,000
Assumable Rate
3.07%
Remaining Balance
$255,621
Equity Gap
$29,379
Loan Type
VAAdjust Your Scenario
$14,250
$14,250$29,379
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,711/moAssumable @ 3.07% + gap loan
$1,204/moAssumed loan: $1,087/mo
Gap financing: $116/mo
$508less per month with the assumable
Your Savings on This Property
12061 3rd, Aurora · 3.07% VA vs 6.5% conventional
$508
per month
$6,091
per year
$182,740
over 30 years
$182,740
interest saved
How gap financing works: The equity gap ($29,379) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,250, 5% of purchase price) and a second mortgage for the rest ($15,129 at 8.5%). 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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