Loan Comparison: 2.94% vs 6.5%
3845 Eaton Park Street, Aurora, CO 80019 · 4bd/2ba · $699,999
List Price
$699,999
Assumable Rate
2.94%
Remaining Balance
$539,330
Equity Gap
$160,669
Loan Type
FHAAdjust Your Scenario
$35,000
$35,000$160,669
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (FHA)
Blended Rate: 3.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 2.94% + gap loan
$3,135/moAssumed loan: $2,256/mo
Gap financing: $879/mo
$1,068less per month with the assumable
Your Savings on This Property
3845 Eaton Park Street, Aurora · 2.94% FHA vs 6.5% conventional
$1,068
per month
$12,818
per year
$384,526
over 30 years
$384,526
interest saved
How gap financing works: The equity gap ($160,669) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,000, 5% of purchase price) and a second mortgage for the rest ($125,669 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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