Loan Comparison: 4.15% vs 6.5%
1225 Dallas Street, Aurora, CO 80010 · 3bd/2ba · $400,000
List Price
$400,000
Assumable Rate
4.15%
Remaining Balance
$198,785
Equity Gap
$201,215
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$201,215
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.15% (FHA)
Blended Rate: 5.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 4.15% + gap loan
$2,233/moAssumed loan: $966/mo
Gap financing: $1,267/mo
$168less per month with the assumable
Your Savings on This Property
1225 Dallas Street, Aurora · 4.15% FHA vs 6.5% conventional
$168
per month
$2,022
per year
$60,652
over 30 years
$60,652
interest saved
How gap financing works: The equity gap ($201,215) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($181,215 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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