Loan Comparison: 3.16% vs 6.5%
6696 Shawnee, Aurora, CO 80016 · 3bd/3ba · $589,000
List Price
$589,000
Assumable Rate
3.16%
Remaining Balance
$455,170
Equity Gap
$212,973
Loan Type
VAAdjust Your Scenario
$29,450
$29,450$212,973
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,537/moAssumable @ 3.16% + gap loan
$3,370/moAssumed loan: $1,959/mo
Gap financing: $1,411/mo
$167less per month with the assumable
Your Savings on This Property
6696 Shawnee, Aurora · 3.16% VA vs 6.5% conventional
$167
per month
$2,005
per year
$60,152
over 30 years
$139,295
interest saved
How gap financing works: The equity gap ($212,973) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,450, 5% of purchase price) and a second mortgage for the rest ($183,523 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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