Loan Comparison: 3.69% vs 6.5%
861 Racine, Aurora, CO 80011 · 3bd/2ba · $415,900
List Price
$415,900
Assumable Rate
3.69%
Remaining Balance
$140,015
Equity Gap
$276,280
Loan Type
VAAdjust Your Scenario
$20,795
$20,795$276,280
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (VA)
Blended Rate: 6.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,497/moAssumable @ 3.69% + gap loan
$2,608/moAssumed loan: $644/mo
Gap financing: $1,964/mo
Your Savings on This Property
861 Racine, Aurora · 3.69% 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 ($276,280) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,795, 5% of purchase price) and a second mortgage for the rest ($255,485 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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