Loan Comparison: 3.45% vs 6.5%
20085 Dartmouth, Aurora, CO 80013 · 3bd/2ba · $640,000
List Price
$640,000
Assumable Rate
3.45%
Remaining Balance
$556,739
Equity Gap
$83,261
Loan Type
VAAdjust Your Scenario
$32,000
$32,000$83,261
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 3.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,843/moAssumable @ 3.45% + gap loan
$2,879/moAssumed loan: $2,484/mo
Gap financing: $394/mo
$964less per month with the assumable
Your Savings on This Property
20085 Dartmouth, Aurora · 3.45% VA vs 6.5% conventional
$964
per month
$11,572
per year
$347,158
over 30 years
$347,158
interest saved
How gap financing works: The equity gap ($83,261) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,000, 5% of purchase price) and a second mortgage for the rest ($51,261 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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