Loan Comparison: 3.47% vs 6.5%
1117 Ventura Circle, Aurora, CO 80017 · 3bd/2ba · $275,000
List Price
$275,000
Assumable Rate
3.47%
Remaining Balance
$212,997
Equity Gap
$62,002
Loan Type
FHAAdjust Your Scenario
$13,750
$13,750$62,002
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (FHA)
Blended Rate: 4.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,651/moAssumable @ 3.47% + gap loan
$1,290/moAssumed loan: $953/mo
Gap financing: $337/mo
$361less per month with the assumable
Your Savings on This Property
1117 Ventura Circle, Aurora · 3.47% FHA vs 6.5% conventional
$361
per month
$4,332
per year
$129,962
over 30 years
$129,961
interest saved
How gap financing works: The equity gap ($62,002) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,750, 5% of purchase price) and a second mortgage for the rest ($48,252 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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