Loan Comparison: 5.23% vs 6.5%
1204 Uvalda, Aurora, CO 80012 · 2bd/2ba · $290,000
List Price
$290,000
Assumable Rate
5.23%
Remaining Balance
$234,006
Equity Gap
$55,994
Loan Type
VAAdjust Your Scenario
$14,500
$14,500$55,994
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,741/moAssumable @ 5.23% + gap loan
$1,608/moAssumed loan: $1,289/mo
Gap financing: $319/mo
$133less per month with the assumable
Your Savings on This Property
1204 Uvalda, Aurora · 5.23% VA vs 6.5% conventional
$133
per month
$1,596
per year
$47,881
over 30 years
$47,881
interest saved
How gap financing works: The equity gap ($55,994) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,500, 5% of purchase price) and a second mortgage for the rest ($41,494 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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