Loan Comparison: 3.16% vs 6.5%
970 Nile, Aurora, CO 80010 · 2bd/1ba · $369,999
List Price
$369,999
Assumable Rate
3.16%
Remaining Balance
$249,396
Equity Gap
$119,470
Loan Type
VAAdjust Your Scenario
$18,500
$18,500$119,470
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 3.16% + gap loan
$1,849/moAssumed loan: $1,073/mo
Gap financing: $776/mo
$372less per month with the assumable
Your Savings on This Property
970 Nile, Aurora · 3.16% VA vs 6.5% conventional
$372
per month
$4,467
per year
$134,005
over 30 years
$132,871
interest saved
How gap financing works: The equity gap ($119,470) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($100,970 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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