Loan Comparison: 3.45% vs 6.5%
7769 Algonquian, Aurora, CO 80016 · 2bd/2ba · $630,000
List Price
$630,000
Assumable Rate
3.45%
Remaining Balance
$578,688
Equity Gap
$50,172
Loan Type
VAAdjust Your Scenario
$31,500
$31,500$50,172
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 3.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,783/moAssumable @ 3.45% + gap loan
$2,726/moAssumed loan: $2,582/mo
Gap financing: $144/mo
$1,057less per month with the assumable
Your Savings on This Property
7769 Algonquian, Aurora · 3.45% VA vs 6.5% conventional
$1,057
per month
$12,683
per year
$380,488
over 30 years
$379,348
interest saved
How gap financing works: The equity gap ($50,172) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,500, 5% of purchase price) and a second mortgage for the rest ($18,672 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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