Loan Comparison: 5.23% vs 6.5%
3657 Flanders, Aurora, CO 80013 · 4bd/2ba · $560,000
List Price
$560,000
Assumable Rate
5.23%
Remaining Balance
$517,050
Equity Gap
$42,950
Loan Type
VAAdjust Your Scenario
$28,000
$28,000$42,950
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,363/moAssumable @ 5.23% + gap loan
$2,964/moAssumed loan: $2,849/mo
Gap financing: $115/mo
$399less per month with the assumable
Your Savings on This Property
3657 Flanders, Aurora · 5.23% VA vs 6.5% conventional
$399
per month
$4,787
per year
$143,597
over 30 years
$143,597
interest saved
How gap financing works: The equity gap ($42,950) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,000, 5% of purchase price) and a second mortgage for the rest ($14,950 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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