Loan Comparison: 3.42% vs 6.5%
14205 25th Place, Aurora, CO 80011 · 3bd/2ba · $449,900
List Price
$449,900
Assumable Rate
3.42%
Remaining Balance
$208,691
Equity Gap
$241,208
Loan Type
FHAAdjust Your Scenario
$22,495
$22,495$241,208
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.42% (FHA)
Blended Rate: 5.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,701/moAssumable @ 3.42% + gap loan
$2,457/moAssumed loan: $928/mo
Gap financing: $1,529/mo
$244less per month with the assumable
Your Savings on This Property
14205 25th Place, Aurora · 3.42% FHA vs 6.5% conventional
$244
per month
$2,933
per year
$87,983
over 30 years
$87,982
interest saved
How gap financing works: The equity gap ($241,208) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,495, 5% of purchase price) and a second mortgage for the rest ($218,713 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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