Loan Comparison: 3.07% vs 6.5%
1850 Nile Court, Aurora, CO 80012 · 3bd/3ba · $565,000
List Price
$565,000
Assumable Rate
3.07%
Remaining Balance
$411,144
Equity Gap
$153,856
Loan Type
FHAAdjust Your Scenario
$28,250
$28,250$153,856
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 3.07% + gap loan
$2,627/moAssumed loan: $1,749/mo
Gap financing: $878/mo
$765less per month with the assumable
Your Savings on This Property
1850 Nile Court, Aurora · 3.07% FHA vs 6.5% conventional
$765
per month
$9,185
per year
$275,547
over 30 years
$275,547
interest saved
How gap financing works: The equity gap ($153,856) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($125,606 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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