Loan Comparison: 5.23% vs 6.5%
698 Moline, Aurora, CO 80012 · 4bd/2ba · $515,000
List Price
$515,000
Assumable Rate
5.23%
Remaining Balance
$486,310
Equity Gap
$28,690
Loan Type
VAAdjust Your Scenario
$25,750
$25,750$28,690
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 5.23% + gap loan
$2,702/moAssumed loan: $2,679/mo
Gap financing: $23/mo
$390less per month with the assumable
Your Savings on This Property
698 Moline, Aurora · 5.23% VA vs 6.5% conventional
$390
per month
$4,685
per year
$140,539
over 30 years
$140,539
interest saved
How gap financing works: The equity gap ($28,690) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($2,940 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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