Loan Comparison: 3.04% vs 6.5%
27620 Lakeview, Aurora, CO 80016 · 6bd/5ba · $1,250,000
List Price
$1,250,000
Assumable Rate
3.04%
Remaining Balance
$557,642
Equity Gap
$692,357
Loan Type
VAAdjust Your Scenario
$62,500
$62,500$692,357
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.04% (VA)
Blended Rate: 5.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,506/moAssumable @ 3.04% + gap loan
$7,206/moAssumed loan: $2,363/mo
Gap financing: $4,843/mo
$300less per month with the assumable
Your Savings on This Property
27620 Lakeview, Aurora · 3.04% VA vs 6.5% conventional
$300
per month
$3,596
per year
$107,879
over 30 years
$107,878
interest saved
How gap financing works: The equity gap ($692,357) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($62,500, 5% of purchase price) and a second mortgage for the rest ($629,857 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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