Loan Comparison: 3.18% vs 6.5%
3482 Eagle, Aurora, CO 80014 · 2bd/2ba · $260,000
List Price
$260,000
Assumable Rate
3.18%
Remaining Balance
$114,855
Equity Gap
$145,144
Loan Type
VAAdjust Your Scenario
$13,000
$13,000$145,144
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.18% (VA)
Blended Rate: 6.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,561/moAssumable @ 3.18% + gap loan
$1,512/moAssumed loan: $495/mo
Gap financing: $1,016/mo
$50less per month with the assumable
Your Savings on This Property
3482 Eagle, Aurora · 3.18% VA vs 6.5% conventional
$50
per month
$596
per year
$17,885
over 30 years
$17,884
interest saved
How gap financing works: The equity gap ($145,144) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,000, 5% of purchase price) and a second mortgage for the rest ($132,144 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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