Loan Comparison: 3.8% vs 6.5%
26925 Quarto, Aurora, CO 80016 · 4bd/4ba · $680,000
List Price
$680,000
Assumable Rate
3.8%
Remaining Balance
$293,168
Equity Gap
$385,993
Loan Type
VAAdjust Your Scenario
$34,000
$34,000$385,993
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (VA)
Blended Rate: 6.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,083/moAssumable @ 3.8% + gap loan
$4,073/moAssumed loan: $1,366/mo
Gap financing: $2,707/mo
$11less per month with the assumable
Your Savings on This Property
26925 Quarto, Aurora · 3.8% VA vs 6.5% conventional
$11
per month
$127
per year
$3,816
over 30 years
$2,977
interest saved
How gap financing works: The equity gap ($385,993) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,000, 5% of purchase price) and a second mortgage for the rest ($351,993 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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