Loan Comparison: 3.87% vs 6.5%
5733 Addison Court, Aurora, CO 80016 · 3bd/3ba · $349,999
List Price
$349,999
Assumable Rate
3.87%
Remaining Balance
$168,636
Equity Gap
$181,363
Loan Type
FHAAdjust Your Scenario
$17,500
$17,500$181,363
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.87% (FHA)
Blended Rate: 5.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 3.87% + gap loan
$1,938/moAssumed loan: $793/mo
Gap financing: $1,146/mo
$163less per month with the assumable
Your Savings on This Property
5733 Addison Court, Aurora · 3.87% FHA vs 6.5% conventional
$163
per month
$1,960
per year
$58,809
over 30 years
$58,809
interest saved
How gap financing works: The equity gap ($181,363) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($163,863 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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