Loan Comparison: 3.27% vs 6.5%
7417 Tempe Court, Aurora, CO 80016 · 3bd/2ba · $674,900
List Price
$674,900
Assumable Rate
3.27%
Remaining Balance
$463,514
Equity Gap
$211,386
Loan Type
FHAAdjust Your Scenario
$33,745
$33,745$211,386
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.27% (FHA)
Blended Rate: 4.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,053/moAssumable @ 3.27% + gap loan
$3,264/moAssumed loan: $2,022/mo
Gap financing: $1,242/mo
$788less per month with the assumable
Your Savings on This Property
7417 Tempe Court, Aurora · 3.27% FHA vs 6.5% conventional
$788
per month
$9,457
per year
$283,720
over 30 years
$283,720
interest saved
How gap financing works: The equity gap ($211,386) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,745, 5% of purchase price) and a second mortgage for the rest ($177,641 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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