Loan Comparison: 3.23% vs 6.5%
11797 Cedar, Aurora, CO 80012 · 1bd/1ba · $265,000
List Price
$265,000
Assumable Rate
3.23%
Remaining Balance
$143,193
Equity Gap
$121,156
Loan Type
VAAdjust Your Scenario
$13,250
$13,250$121,156
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 5.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,591/moAssumable @ 3.23% + gap loan
$1,451/moAssumed loan: $622/mo
Gap financing: $830/mo
$140less per month with the assumable
Your Savings on This Property
11797 Cedar, Aurora · 3.23% VA vs 6.5% conventional
$140
per month
$1,679
per year
$50,369
over 30 years
$49,718
interest saved
How gap financing works: The equity gap ($121,156) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,250, 5% of purchase price) and a second mortgage for the rest ($107,906 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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