Loan Comparison: 4.87% vs 6.5%
1282 Uvalda Street, Aurora, CO 80012 · 3bd/3ba · $215,000
List Price
$215,000
Assumable Rate
4.87%
Remaining Balance
$170,277
Equity Gap
$44,723
Loan Type
FHAAdjust Your Scenario
$10,750
$10,750$44,723
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.87% (FHA)
Blended Rate: 5.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,291/moAssumable @ 4.87% + gap loan
$1,138/moAssumed loan: $901/mo
Gap financing: $238/mo
$153less per month with the assumable
Your Savings on This Property
1282 Uvalda Street, Aurora · 4.87% FHA vs 6.5% conventional
$153
per month
$1,834
per year
$55,027
over 30 years
$55,027
interest saved
How gap financing works: The equity gap ($44,723) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,750, 5% of purchase price) and a second mortgage for the rest ($33,973 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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