Loan Comparison: 3.31% vs 6.5%
18290 Harvard Place, Aurora, CO 80013 · 2bd/3ba · $710,000
List Price
$710,000
Assumable Rate
3.31%
Remaining Balance
$383,811
Equity Gap
$326,189
Loan Type
FHAAdjust Your Scenario
$35,500
$35,500$326,189
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 5.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,263/moAssumable @ 3.31% + gap loan
$3,716/moAssumed loan: $1,683/mo
Gap financing: $2,033/mo
$548less per month with the assumable
Your Savings on This Property
18290 Harvard Place, Aurora · 3.31% FHA vs 6.5% conventional
$548
per month
$6,573
per year
$197,181
over 30 years
$197,181
interest saved
How gap financing works: The equity gap ($326,189) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,500, 5% of purchase price) and a second mortgage for the rest ($290,689 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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