Loan Comparison: 5.73% vs 6.5%
12343 2nd, Aurora, CO 80011 · 2bd/3ba · $320,000
List Price
$320,000
Assumable Rate
5.73%
Remaining Balance
$74,708
Equity Gap
$246,566
Loan Type
VAAdjust Your Scenario
$16,000
$16,000$246,566
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.73% (VA)
Blended Rate: 7.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,921/moAssumable @ 5.73% + gap loan
$2,208/moAssumed loan: $435/mo
Gap financing: $1,773/mo
Your Savings on This Property
12343 2nd, Aurora · 5.73% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($246,566) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,000, 5% of purchase price) and a second mortgage for the rest ($230,566 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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