Loan Comparison: 5.22% vs 6.5%
14301 Tennessee, Aurora, CO 80012 · 2bd/2ba · $271,000
List Price
$271,000
Assumable Rate
5.22%
Remaining Balance
$253,418
Equity Gap
$17,211
Loan Type
VAAdjust Your Scenario
$13,550
$13,550$17,211
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (VA)
Blended Rate: 5.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,627/moAssumable @ 5.22% + gap loan
$1,423/moAssumed loan: $1,395/mo
Gap financing: $28/mo
$204less per month with the assumable
Your Savings on This Property
14301 Tennessee, Aurora · 5.22% VA vs 6.5% conventional
$204
per month
$2,453
per year
$73,595
over 30 years
$73,224
interest saved
How gap financing works: The equity gap ($17,211) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,550, 5% of purchase price) and a second mortgage for the rest ($3,661 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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