Loan Comparison: 3.19% vs 6.5%
3482 Eagle, Aurora, CO 80014 · 2bd/2ba · $245,000
List Price
$245,000
Assumable Rate
3.19%
Remaining Balance
$111,192
Equity Gap
$133,808
Loan Type
VAAdjust Your Scenario
$12,250
$12,250$133,808
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.19% (VA)
Blended Rate: 5.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,471/moAssumable @ 3.19% + gap loan
$1,415/moAssumed loan: $480/mo
Gap financing: $935/mo
$56less per month with the assumable
Your Savings on This Property
3482 Eagle, Aurora · 3.19% VA vs 6.5% conventional
$56
per month
$674
per year
$20,233
over 30 years
$20,233
interest saved
How gap financing works: The equity gap ($133,808) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,250, 5% of purchase price) and a second mortgage for the rest ($121,558 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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