Loan Comparison: 3.45% vs 6.5%
12005 Yale Avenue, Aurora, CO 80014 · 5bd/2ba · $349,900
List Price
$349,900
Assumable Rate
3.45%
Remaining Balance
$175,249
Equity Gap
$174,650
Loan Type
FHAAdjust Your Scenario
$17,495
$17,495$174,650
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 5.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,101/moAssumable @ 3.45% + gap loan
$1,881/moAssumed loan: $782/mo
Gap financing: $1,099/mo
$220less per month with the assumable
Your Savings on This Property
12005 Yale Avenue, Aurora · 3.45% FHA vs 6.5% conventional
$220
per month
$2,641
per year
$79,240
over 30 years
$79,239
interest saved
How gap financing works: The equity gap ($174,650) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,495, 5% of purchase price) and a second mortgage for the rest ($157,155 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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