Loan Comparison: 3.69% vs 6.5%
25167 Ellsworth Place, Aurora, CO 80018 · 3bd/3ba · $630,000
List Price
$630,000
Assumable Rate
3.69%
Remaining Balance
$327,129
Equity Gap
$302,870
Loan Type
FHAAdjust Your Scenario
$31,500
$31,500$302,870
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 5.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,783/moAssumable @ 3.69% + gap loan
$3,401/moAssumed loan: $1,504/mo
Gap financing: $1,897/mo
$382less per month with the assumable
Your Savings on This Property
25167 Ellsworth Place, Aurora · 3.69% FHA vs 6.5% conventional
$382
per month
$4,579
per year
$137,376
over 30 years
$137,375
interest saved
How gap financing works: The equity gap ($302,870) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,500, 5% of purchase price) and a second mortgage for the rest ($271,370 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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