Loan Comparison: 3.75% vs 6.5%
21447 Union Place, Aurora, CO 80015 · 4bd/2ba · $699,000
List Price
$699,000
Assumable Rate
3.75%
Remaining Balance
$111,850
Equity Gap
$587,149
Loan Type
FHAAdjust Your Scenario
$34,950
$34,950$587,149
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.75% (FHA)
Blended Rate: 6.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 3.75% + gap loan
$4,379/moAssumed loan: $518/mo
Gap financing: $3,861/mo
Your Savings on This Property
21447 Union Place, Aurora · 3.75% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($587,149) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($552,199 at 7.5%). 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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