Loan Comparison: 3.16% vs 6.5%
7460 Old Hammer, Aurora, CO 80016 · 3bd/3ba · $574,900
List Price
$574,900
Assumable Rate
3.16%
Remaining Balance
$440,942
Equity Gap
$134,953
Loan Type
VAAdjust Your Scenario
$28,745
$28,745$134,953
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,452/moAssumable @ 3.16% + gap loan
$2,714/moAssumed loan: $1,897/mo
Gap financing: $817/mo
$738less per month with the assumable
Your Savings on This Property
7460 Old Hammer, Aurora · 3.16% VA vs 6.5% conventional
$738
per month
$8,858
per year
$265,726
over 30 years
$266,721
interest saved
How gap financing works: The equity gap ($134,953) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,745, 5% of purchase price) and a second mortgage for the rest ($106,208 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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