Loan Comparison: 2.99% vs 6.5%
4102 Dunkirk Way, Aurora, CO 80013 · 3bd/2ba · $445,000
List Price
$445,000
Assumable Rate
2.99%
Remaining Balance
$328,398
Equity Gap
$116,602
Loan Type
FHAAdjust Your Scenario
$22,250
$22,250$116,602
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (FHA)
Blended Rate: 4.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,672/moAssumable @ 2.99% + gap loan
$2,042/moAssumed loan: $1,383/mo
Gap financing: $660/mo
$630less per month with the assumable
Your Savings on This Property
4102 Dunkirk Way, Aurora · 2.99% FHA vs 6.5% conventional
$630
per month
$7,555
per year
$226,647
over 30 years
$226,647
interest saved
How gap financing works: The equity gap ($116,602) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,250, 5% of purchase price) and a second mortgage for the rest ($94,352 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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