Loan Comparison: 4.63% vs 6.5%
21986 Oberlin Place, Aurora, CO 80018 · 4bd/2ba · $652,400
List Price
$652,400
Assumable Rate
4.63%
Remaining Balance
$310,023
Equity Gap
$342,377
Loan Type
FHAAdjust Your Scenario
$32,620
$32,620$342,377
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.63% (FHA)
Blended Rate: 6.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,917/moAssumable @ 4.63% + gap loan
$3,761/moAssumed loan: $1,595/mo
Gap financing: $2,166/mo
$157less per month with the assumable
Your Savings on This Property
21986 Oberlin Place, Aurora · 4.63% FHA vs 6.5% conventional
$157
per month
$1,880
per year
$56,407
over 30 years
$56,407
interest saved
How gap financing works: The equity gap ($342,377) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,620, 5% of purchase price) and a second mortgage for the rest ($309,757 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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