Loan Comparison: 3.04% vs 6.5%
27620 Lakeview, Aurora, CO 80016 · 6bd/5ba · $1,199,000
List Price
$1,199,000
Assumable Rate
3.04%
Remaining Balance
$556,381
Equity Gap
$640,099
Loan Type
VAAdjust Your Scenario
$59,950
$59,950$640,099
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.04% (VA)
Blended Rate: 5.83%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,200/moAssumable @ 3.04% + gap loan
$6,819/moAssumed loan: $2,358/mo
Gap financing: $4,461/mo
$381less per month with the assumable
Your Savings on This Property
27620 Lakeview, Aurora · 3.04% VA vs 6.5% conventional
$381
per month
$4,572
per year
$137,154
over 30 years
$134,634
interest saved
How gap financing works: The equity gap ($640,099) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($59,950, 5% of purchase price) and a second mortgage for the rest ($580,149 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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