Loan Comparison: 3.02% vs 6.5%
17774 Arizona, Aurora, CO 80017 · 3bd/2ba · $454,900
List Price
$454,900
Assumable Rate
3.02%
Remaining Balance
$347,964
Equity Gap
$106,936
Loan Type
VAAdjust Your Scenario
$22,745
$22,745$106,936
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 4.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,732/moAssumable @ 3.02% + gap loan
$2,118/moAssumed loan: $1,471/mo
Gap financing: $647/mo
$613less per month with the assumable
Your Savings on This Property
17774 Arizona, Aurora · 3.02% VA vs 6.5% conventional
$613
per month
$7,360
per year
$220,814
over 30 years
$220,814
interest saved
How gap financing works: The equity gap ($106,936) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,745, 5% of purchase price) and a second mortgage for the rest ($84,191 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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