Loan Comparison: 2.93% vs 6.5%
3869 Himalaya Way, Aurora, CO 80249 · 4bd/3ba · $449,000
List Price
$449,000
Assumable Rate
2.93%
Remaining Balance
$392,328
Equity Gap
$56,671
Loan Type
FHAAdjust Your Scenario
$22,450
$22,450$56,671
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.93% (FHA)
Blended Rate: 3.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,696/moAssumable @ 2.93% + gap loan
$1,879/moAssumed loan: $1,639/mo
Gap financing: $239/mo
$818less per month with the assumable
Your Savings on This Property
3869 Himalaya Way, Aurora · 2.93% FHA vs 6.5% conventional
$818
per month
$9,810
per year
$294,304
over 30 years
$294,303
interest saved
How gap financing works: The equity gap ($56,671) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,450, 5% of purchase price) and a second mortgage for the rest ($34,221 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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