Loan Comparison: 5.23% vs 6.5%
3657 Flanders, Aurora, CO 80013 · 4bd/2ba · $565,000
List Price
$565,000
Assumable Rate
5.23%
Remaining Balance
$517,824
Equity Gap
$47,176
Loan Type
VAAdjust Your Scenario
$28,250
$28,250$47,176
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 5.23% + gap loan
$2,999/moAssumed loan: $2,853/mo
Gap financing: $146/mo
$394less per month with the assumable
Your Savings on This Property
3657 Flanders, Aurora · 5.23% VA vs 6.5% conventional
$394
per month
$4,729
per year
$141,865
over 30 years
$141,865
interest saved
How gap financing works: The equity gap ($47,176) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($18,926 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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