Loan Comparison: 3.64% vs 6.5%
14313 1st Drive, Aurora, CO 80011 · 4bd/2ba · $255,000
List Price
$255,000
Assumable Rate
3.64%
Remaining Balance
$208,575
Equity Gap
$46,425
Loan Type
FHAAdjust Your Scenario
$12,750
$12,750$46,425
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.64% (FHA)
Blended Rate: 4.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,531/moAssumable @ 3.64% + gap loan
$1,188/moAssumed loan: $953/mo
Gap financing: $235/mo
$343less per month with the assumable
Your Savings on This Property
14313 1st Drive, Aurora · 3.64% FHA vs 6.5% conventional
$343
per month
$4,113
per year
$123,391
over 30 years
$123,391
interest saved
How gap financing works: The equity gap ($46,425) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,750, 5% of purchase price) and a second mortgage for the rest ($33,675 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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