Loan Comparison: 3.16% vs 6.5%
23920 Easter, Aurora, CO 80016 · 3bd/3ba · $775,000
List Price
$775,000
Assumable Rate
3.16%
Remaining Balance
$415,653
Equity Gap
$358,402
Loan Type
VAAdjust Your Scenario
$38,750
$38,750$358,402
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 5.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,654/moAssumable @ 3.16% + gap loan
$4,246/moAssumed loan: $1,788/mo
Gap financing: $2,458/mo
$407less per month with the assumable
Your Savings on This Property
23920 Easter, Aurora · 3.16% VA vs 6.5% conventional
$407
per month
$4,887
per year
$146,618
over 30 years
$145,673
interest saved
How gap financing works: The equity gap ($358,402) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,750, 5% of purchase price) and a second mortgage for the rest ($319,652 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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