Loan Comparison: 4% vs 6.5%
103 Aurelia, Palmer Lake, CO 80133 · 4bd/2ba · $559,000
List Price
$559,000
Assumable Rate
4%
Remaining Balance
$511,500
Equity Gap
$88,396
Loan Type
VAAdjust Your Scenario
$27,950
$27,950$88,396
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (VA)
Blended Rate: 4.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,357/moAssumable @ 4% + gap loan
$2,907/moAssumed loan: $2,442/mo
Gap financing: $465/mo
$450less per month with the assumable
Your Savings on This Property
103 Aurelia, Palmer Lake · 4% VA vs 6.5% conventional
$450
per month
$5,398
per year
$161,943
over 30 years
$202,839
interest saved
How gap financing works: The equity gap ($88,396) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,950, 5% of purchase price) and a second mortgage for the rest ($60,446 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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