Loan Comparison: 2.68% vs 6.5%
12445 6th Place, Aurora, CO 80011 · 4bd/3ba · $479,999
List Price
$479,999
Assumable Rate
2.68%
Remaining Balance
$331,020
Equity Gap
$148,978
Loan Type
FHAAdjust Your Scenario
$24,000
$24,000$148,978
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 4.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,882/moAssumable @ 2.68% + gap loan
$2,213/moAssumed loan: $1,339/mo
Gap financing: $874/mo
$669less per month with the assumable
Your Savings on This Property
12445 6th Place, Aurora · 2.68% FHA vs 6.5% conventional
$669
per month
$8,031
per year
$240,927
over 30 years
$240,926
interest saved
How gap financing works: The equity gap ($148,978) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,000, 5% of purchase price) and a second mortgage for the rest ($124,978 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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