Loan Comparison: 3.67% vs 6.5%
1526 Fraser Way, Aurora, CO 80012 · 2bd/2ba · $450,000
List Price
$450,000
Assumable Rate
3.67%
Remaining Balance
$131,784
Equity Gap
$318,216
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$318,216
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.67% (FHA)
Blended Rate: 6.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.67% + gap loan
$2,672/moAssumed loan: $604/mo
Gap financing: $2,068/mo
$30less per month with the assumable
Your Savings on This Property
1526 Fraser Way, Aurora · 3.67% FHA vs 6.5% conventional
$30
per month
$361
per year
$10,820
over 30 years
$10,820
interest saved
How gap financing works: The equity gap ($318,216) 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 ($295,716 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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