Loan Comparison: 3.23% vs 6.5%
2503 Argonne Street, Aurora, CO 80013 · 1bd/1ba · $525,000
List Price
$525,000
Assumable Rate
3.23%
Remaining Balance
$317,483
Equity Gap
$207,517
Loan Type
FHAAdjust Your Scenario
$26,250
$26,250$207,517
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 3.23% + gap loan
$2,646/moAssumed loan: $1,378/mo
Gap financing: $1,267/mo
$507less per month with the assumable
Your Savings on This Property
2503 Argonne Street, Aurora · 3.23% FHA vs 6.5% conventional
$507
per month
$6,081
per year
$182,437
over 30 years
$182,437
interest saved
How gap financing works: The equity gap ($207,517) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($181,267 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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