Loan Comparison: 3.16% vs 6.5%
970 Nile, Aurora, CO 80010 · 2bd/1ba · $395,000
List Price
$395,000
Assumable Rate
3.16%
Remaining Balance
$250,529
Equity Gap
$144,471
Loan Type
VAAdjust Your Scenario
$19,750
$19,750$144,471
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 3.16% + gap loan
$2,037/moAssumed loan: $1,078/mo
Gap financing: $959/mo
$335less per month with the assumable
Your Savings on This Property
970 Nile, Aurora · 3.16% VA vs 6.5% conventional
$335
per month
$4,018
per year
$120,549
over 30 years
$120,549
interest saved
How gap financing works: The equity gap ($144,471) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($124,721 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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