Loan Comparison: 2.72% vs 6.5%
25644 Byers Drive, Aurora, CO 80239 · 4bd/2ba · $460,000
List Price
$460,000
Assumable Rate
2.72%
Remaining Balance
$324,585
Equity Gap
$135,415
Loan Type
FHAAdjust Your Scenario
$23,000
$23,000$135,415
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.72% (FHA)
Blended Rate: 3.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 2.72% + gap loan
$2,106/moAssumed loan: $1,320/mo
Gap financing: $786/mo
$656less per month with the assumable
Your Savings on This Property
25644 Byers Drive, Aurora · 2.72% FHA vs 6.5% conventional
$656
per month
$7,874
per year
$236,224
over 30 years
$236,224
interest saved
How gap financing works: The equity gap ($135,415) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($112,415 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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