Loan Comparison: 3.89% vs 6.5%
12324 2nd Drive, Aurora, CO 80011 · 3bd/2ba · $310,000
List Price
$310,000
Assumable Rate
3.89%
Remaining Balance
$74,548
Equity Gap
$235,452
Loan Type
FHAAdjust Your Scenario
$15,500
$15,500$235,452
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.89% (FHA)
Blended Rate: 6.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,861/moAssumable @ 3.89% + gap loan
$1,889/moAssumed loan: $351/mo
Gap financing: $1,538/mo
Your Savings on This Property
12324 2nd Drive, Aurora · 3.89% 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 ($235,452) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,500, 5% of purchase price) and a second mortgage for the rest ($219,952 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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