Loan Comparison: 3% vs 6.5%
7064 Vandriver, Aurora, CO 80016 · 6bd/5ba · $1,050,000
List Price
$1,050,000
Assumable Rate
3%
Remaining Balance
$847,071
Equity Gap
$251,475
Loan Type
VAAdjust Your Scenario
$52,500
$52,500$251,475
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3% (VA)
Blended Rate: 4.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,305/moAssumable @ 3% + gap loan
$5,101/moAssumed loan: $3,571/mo
Gap financing: $1,530/mo
$1,204less per month with the assumable
Your Savings on This Property
7064 Vandriver, Aurora · 3% VA vs 6.5% conventional
$1,204
per month
$14,444
per year
$433,313
over 30 years
$481,859
interest saved
How gap financing works: The equity gap ($251,475) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($52,500, 5% of purchase price) and a second mortgage for the rest ($198,975 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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