Loan Comparison: 4.2% vs 6.5%
3085 Macon Circle, Aurora, CO 80014 · 4bd/3ba · $350,000
List Price
$350,000
Assumable Rate
4.2%
Remaining Balance
$190,341
Equity Gap
$159,659
Loan Type
FHAAdjust Your Scenario
$17,500
$17,500$159,659
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.2% (FHA)
Blended Rate: 5.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 4.2% + gap loan
$1,925/moAssumed loan: $931/mo
Gap financing: $994/mo
$177less per month with the assumable
Your Savings on This Property
3085 Macon Circle, Aurora · 4.2% FHA vs 6.5% conventional
$177
per month
$2,122
per year
$63,659
over 30 years
$63,659
interest saved
How gap financing works: The equity gap ($159,659) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($142,159 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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