Loan Comparison: 3.06% vs 6.5%
22238 45th, Aurora, CO 80019 · 4bd/3ba · $585,000
List Price
$585,000
Assumable Rate
3.06%
Remaining Balance
$471,533
Equity Gap
$113,467
Loan Type
VAAdjust Your Scenario
$29,250
$29,250$113,467
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 3.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 3.06% + gap loan
$2,651/moAssumed loan: $2,003/mo
Gap financing: $648/mo
$862less per month with the assumable
Your Savings on This Property
22238 45th, Aurora · 3.06% VA vs 6.5% conventional
$862
per month
$10,342
per year
$310,273
over 30 years
$310,273
interest saved
How gap financing works: The equity gap ($113,467) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($84,217 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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