Loan Comparison: 3.62% vs 6.5%
23642 5th, Aurora, CO 80018 · 3bd/3ba · $390,000
List Price
$390,000
Assumable Rate
3.62%
Remaining Balance
$289,840
Equity Gap
$99,528
Loan Type
VAAdjust Your Scenario
$19,500
$19,500$99,528
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (VA)
Blended Rate: 4.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,342/moAssumable @ 3.62% + gap loan
$1,936/moAssumed loan: $1,321/mo
Gap financing: $615/mo
$405less per month with the assumable
Your Savings on This Property
23642 5th, Aurora · 3.62% VA vs 6.5% conventional
$405
per month
$4,866
per year
$145,966
over 30 years
$145,334
interest saved
How gap financing works: The equity gap ($99,528) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,500, 5% of purchase price) and a second mortgage for the rest ($80,028 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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