Loan Comparison: 3.8% vs 6.5%
14000 Linvale Place, Aurora, CO 80014 · 6bd/3ba · $357,999
List Price
$357,999
Assumable Rate
3.8%
Remaining Balance
$231,820
Equity Gap
$126,179
Loan Type
FHAAdjust Your Scenario
$17,900
$17,900$126,179
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (FHA)
Blended Rate: 4.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,150/moAssumable @ 3.8% + gap loan
$1,837/moAssumed loan: $1,080/mo
Gap financing: $757/mo
$312less per month with the assumable
Your Savings on This Property
14000 Linvale Place, Aurora · 3.8% FHA vs 6.5% conventional
$312
per month
$3,748
per year
$112,454
over 30 years
$112,454
interest saved
How gap financing works: The equity gap ($126,179) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,900, 5% of purchase price) and a second mortgage for the rest ($108,279 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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