Loan Comparison: 3.62% vs 6.5%
23642 5th, Aurora, CO 80018 · 3bd/3ba · $400,000
List Price
$400,000
Assumable Rate
3.62%
Remaining Balance
$290,472
Equity Gap
$109,528
Loan Type
VAAdjust Your Scenario
$20,000
$20,000$109,528
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (VA)
Blended Rate: 4.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 3.62% + gap loan
$2,012/moAssumed loan: $1,324/mo
Gap financing: $688/mo
$390less per month with the assumable
Your Savings on This Property
23642 5th, Aurora · 3.62% VA vs 6.5% conventional
$390
per month
$4,675
per year
$140,249
over 30 years
$140,249
interest saved
How gap financing works: The equity gap ($109,528) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($89,528 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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