Loan Comparison: 4.98% vs 6.5%
1729 Jamaica, Aurora, CO 80010 · 3bd/2ba · $470,000
List Price
$470,000
Assumable Rate
4.98%
Remaining Balance
$382,770
Equity Gap
$87,230
Loan Type
VAAdjust Your Scenario
$23,500
$23,500$87,230
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (VA)
Blended Rate: 5.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 4.98% + gap loan
$2,540/moAssumed loan: $2,050/mo
Gap financing: $490/mo
$282less per month with the assumable
Your Savings on This Property
1729 Jamaica, Aurora · 4.98% VA vs 6.5% conventional
$282
per month
$3,384
per year
$101,534
over 30 years
$101,534
interest saved
How gap financing works: The equity gap ($87,230) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,500, 5% of purchase price) and a second mortgage for the rest ($63,730 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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