Loan Comparison: 2.81% vs 6.5%
1184 Uvalda Street, Aurora, CO 80012 · 4bd/4ba · $225,000
List Price
$225,000
Assumable Rate
2.81%
Remaining Balance
$203,485
Equity Gap
$21,515
Loan Type
FHAAdjust Your Scenario
$11,250
$11,250$21,515
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 3.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,351/moAssumable @ 2.81% + gap loan
$909/moAssumed loan: $837/mo
Gap financing: $72/mo
$442less per month with the assumable
Your Savings on This Property
1184 Uvalda Street, Aurora · 2.81% FHA vs 6.5% conventional
$442
per month
$5,305
per year
$159,149
over 30 years
$159,149
interest saved
How gap financing works: The equity gap ($21,515) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,250, 5% of purchase price) and a second mortgage for the rest ($10,265 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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