Loan Comparison: 3.16% vs 6.5%
24503 Ford, Aurora, CO 80018 · 3bd/2ba · $580,000
List Price
$580,000
Assumable Rate
3.16%
Remaining Balance
$134,310
Equity Gap
$445,386
Loan Type
VAAdjust Your Scenario
$29,000
$29,000$445,386
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 7.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,483/moAssumable @ 3.16% + gap loan
$3,780/moAssumed loan: $578/mo
Gap financing: $3,202/mo
Your Savings on This Property
24503 Ford, Aurora · 3.16% 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 ($445,386) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,000, 5% of purchase price) and a second mortgage for the rest ($416,386 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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