Loan Comparison: 3.31% vs 6.5%
6404 Harvest, Aurora, CO 80016 · 4bd/2ba · $565,000
List Price
$565,000
Assumable Rate
3.31%
Remaining Balance
$444,865
Equity Gap
$120,135
Loan Type
VAAdjust Your Scenario
$28,250
$28,250$120,135
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (VA)
Blended Rate: 4.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 3.31% + gap loan
$2,657/moAssumed loan: $1,951/mo
Gap financing: $707/mo
$735less per month with the assumable
Your Savings on This Property
6404 Harvest, Aurora · 3.31% VA vs 6.5% conventional
$735
per month
$8,824
per year
$264,726
over 30 years
$264,726
interest saved
How gap financing works: The equity gap ($120,135) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($91,885 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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