Loan Comparison: 3.88% vs 6.5%
1420 Lewiston Street, Aurora, CO 80017 · 1bd/1ba · $450,000
List Price
$450,000
Assumable Rate
3.88%
Remaining Balance
$104,747
Equity Gap
$345,253
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$345,253
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.88% (FHA)
Blended Rate: 6.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.88% + gap loan
$2,750/moAssumed loan: $493/mo
Gap financing: $2,257/mo
Your Savings on This Property
1420 Lewiston Street, Aurora · 3.88% 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 ($345,253) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($322,753 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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