Loan Comparison: 2.87% vs 6.5%
19662 Purdue Circle, Aurora, CO 80013 · 5bd/4ba · $475,000
List Price
$475,000
Assumable Rate
2.87%
Remaining Balance
$32,779
Equity Gap
$442,220
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$442,220
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 7.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 2.87% + gap loan
$3,062/moAssumed loan: $136/mo
Gap financing: $2,926/mo
Your Savings on This Property
19662 Purdue Circle, Aurora · 2.87% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($442,220) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($418,470 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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