Loan Comparison: 2.77% vs 6.5%
25283 2nd Avenue, Aurora, CO 80018 · 3bd/2ba · $550,000
List Price
$550,000
Assumable Rate
2.77%
Remaining Balance
$491,265
Equity Gap
$58,735
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$58,735
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (FHA)
Blended Rate: 3.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 2.77% + gap loan
$2,229/moAssumed loan: $2,011/mo
Gap financing: $218/mo
$1,073less per month with the assumable
Your Savings on This Property
25283 2nd Avenue, Aurora · 2.77% FHA vs 6.5% conventional
$1,073
per month
$12,881
per year
$386,425
over 30 years
$386,425
interest saved
How gap financing works: The equity gap ($58,735) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($31,235 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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