Loan Comparison: 3.04% vs 6.5%
3954 Bahama, Aurora, CO 80013 · 3bd/3ba · $450,000
List Price
$450,000
Assumable Rate
3.04%
Remaining Balance
$388,644
Equity Gap
$62,222
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$62,222
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.04% (VA)
Blended Rate: 3.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.04% + gap loan
$1,952/moAssumed loan: $1,647/mo
Gap financing: $305/mo
$750less per month with the assumable
Your Savings on This Property
3954 Bahama, Aurora · 3.04% VA vs 6.5% conventional
$750
per month
$8,997
per year
$269,902
over 30 years
$270,768
interest saved
How gap financing works: The equity gap ($62,222) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($39,722 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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