Loan Comparison: 3.07% vs 6.5%
3175 Ensenada, Aurora, CO 80013 · 4bd/2ba · $445,000
List Price
$445,000
Assumable Rate
3.07%
Remaining Balance
$348,080
Equity Gap
$96,920
Loan Type
VAAdjust Your Scenario
$22,250
$22,250$96,920
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 4.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,672/moAssumable @ 3.07% + gap loan
$2,055/moAssumed loan: $1,481/mo
Gap financing: $574/mo
$617less per month with the assumable
Your Savings on This Property
3175 Ensenada, Aurora · 3.07% VA vs 6.5% conventional
$617
per month
$7,407
per year
$222,202
over 30 years
$222,202
interest saved
How gap financing works: The equity gap ($96,920) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,250, 5% of purchase price) and a second mortgage for the rest ($74,670 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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