Loan Comparison: 3.9% vs 6.5%
17146 Tennessee Drive, Aurora, CO 80017 · 2bd/2ba · $240,000
List Price
$240,000
Assumable Rate
3.9%
Remaining Balance
$135,652
Equity Gap
$104,347
Loan Type
FHAAdjust Your Scenario
$12,000
$12,000$104,347
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.9% (FHA)
Blended Rate: 5.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,441/moAssumable @ 3.9% + gap loan
$1,286/moAssumed loan: $640/mo
Gap financing: $646/mo
$156less per month with the assumable
Your Savings on This Property
17146 Tennessee Drive, Aurora · 3.9% FHA vs 6.5% conventional
$156
per month
$1,867
per year
$56,010
over 30 years
$56,009
interest saved
How gap financing works: The equity gap ($104,347) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,000, 5% of purchase price) and a second mortgage for the rest ($92,347 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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