Loan Comparison: 3.31% vs 6.5%
19542 19th Place, Aurora, CO 80011 · 5bd/4ba · $459,000
List Price
$459,000
Assumable Rate
3.31%
Remaining Balance
$302,784
Equity Gap
$156,215
Loan Type
FHAAdjust Your Scenario
$22,950
$22,950$156,215
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,756/moAssumable @ 3.31% + gap loan
$2,260/moAssumed loan: $1,328/mo
Gap financing: $932/mo
$497less per month with the assumable
Your Savings on This Property
19542 19th Place, Aurora · 3.31% FHA vs 6.5% conventional
$497
per month
$5,959
per year
$178,775
over 30 years
$178,774
interest saved
How gap financing works: The equity gap ($156,215) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,950, 5% of purchase price) and a second mortgage for the rest ($133,265 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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