Loan Comparison: 2.95% vs 6.5%
2622 Xanadu Way, Aurora, CO 80014 · 2bd/2ba · $285,000
List Price
$285,000
Assumable Rate
2.95%
Remaining Balance
$256,123
Equity Gap
$28,876
Loan Type
FHAAdjust Your Scenario
$14,250
$14,250$28,876
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.95% (FHA)
Blended Rate: 3.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,711/moAssumable @ 2.95% + gap loan
$1,175/moAssumed loan: $1,073/mo
Gap financing: $102/mo
$536less per month with the assumable
Your Savings on This Property
2622 Xanadu Way, Aurora · 2.95% FHA vs 6.5% conventional
$536
per month
$6,434
per year
$193,006
over 30 years
$193,005
interest saved
How gap financing works: The equity gap ($28,876) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,250, 5% of purchase price) and a second mortgage for the rest ($14,626 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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