Loan Comparison: 3.16% vs 6.5%
23920 Easter, Aurora, CO 80016 · 3bd/3ba · $685,000
List Price
$685,000
Assumable Rate
3.16%
Remaining Balance
$414,705
Equity Gap
$268,402
Loan Type
VAAdjust Your Scenario
$34,250
$34,250$268,402
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 5.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,113/moAssumable @ 3.16% + gap loan
$3,585/moAssumed loan: $1,784/mo
Gap financing: $1,800/mo
$528less per month with the assumable
Your Savings on This Property
23920 Easter, Aurora · 3.16% VA vs 6.5% conventional
$528
per month
$6,340
per year
$190,208
over 30 years
$188,315
interest saved
How gap financing works: The equity gap ($268,402) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,250, 5% of purchase price) and a second mortgage for the rest ($234,152 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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