Loan Comparison: 3.77% vs 6.5%
4304 Ceylon, Aurora, CO 80015 · 3bd/2ba · $500,000
List Price
$500,000
Assumable Rate
3.77%
Remaining Balance
$286,300
Equity Gap
$213,699
Loan Type
VAAdjust Your Scenario
$25,000
$25,000$213,699
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (VA)
Blended Rate: 5.65%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 3.77% + gap loan
$2,780/moAssumed loan: $1,329/mo
Gap financing: $1,451/mo
$222less per month with the assumable
Your Savings on This Property
4304 Ceylon, Aurora · 3.77% VA vs 6.5% conventional
$222
per month
$2,667
per year
$80,006
over 30 years
$80,005
interest saved
How gap financing works: The equity gap ($213,699) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($188,699 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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