Loan Comparison: 3.55% vs 6.5%
5566 Ireland, Aurora, CO 80015 · 4bd/3ba · $559,000
List Price
$559,000
Assumable Rate
3.55%
Remaining Balance
$580,160
Equity Gap
$30,692
Loan Type
VAAdjust Your Scenario
$27,950
$27,950$30,692
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.55% (VA)
Blended Rate: 3.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,357/moAssumable @ 3.55% + gap loan
$2,642/moAssumed loan: $2,621/mo
Gap financing: $21/mo
$714less per month with the assumable
Your Savings on This Property
5566 Ireland, Aurora · 3.55% VA vs 6.5% conventional
$714
per month
$8,569
per year
$257,082
over 30 years
$308,934
interest saved
How gap financing works: The equity gap ($30,692) 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 ($2,742 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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