Loan Comparison: 3.18% vs 6.5%
3482 Eagle, Aurora, CO 80014 · 2bd/2ba · $250,000
List Price
$250,000
Assumable Rate
3.18%
Remaining Balance
$113,935
Equity Gap
$136,064
Loan Type
VAAdjust Your Scenario
$12,500
$12,500$136,064
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.18% (VA)
Blended Rate: 5.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,501/moAssumable @ 3.18% + gap loan
$1,442/moAssumed loan: $491/mo
Gap financing: $950/mo
$60less per month with the assumable
Your Savings on This Property
3482 Eagle, Aurora · 3.18% VA vs 6.5% conventional
$60
per month
$715
per year
$21,447
over 30 years
$21,446
interest saved
How gap financing works: The equity gap ($136,064) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,500, 5% of purchase price) and a second mortgage for the rest ($123,564 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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