Loan Comparison: 2.89% vs 6.5%
25060 Maple Place, Aurora, CO 80018 · 3bd/2ba · $579,500
List Price
$579,500
Assumable Rate
2.89%
Remaining Balance
$340,827
Equity Gap
$238,673
Loan Type
FHAAdjust Your Scenario
$28,975
$28,975$238,673
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (FHA)
Blended Rate: 4.65%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,480/moAssumable @ 2.89% + gap loan
$2,883/moAssumed loan: $1,417/mo
Gap financing: $1,466/mo
$597less per month with the assumable
Your Savings on This Property
25060 Maple Place, Aurora · 2.89% FHA vs 6.5% conventional
$597
per month
$7,160
per year
$214,795
over 30 years
$214,795
interest saved
How gap financing works: The equity gap ($238,673) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,975, 5% of purchase price) and a second mortgage for the rest ($209,698 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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