Loan Comparison: 2.77% vs 6.5%
1661 Idalia Circle, Aurora, CO 80017 · 3bd/3ba · $235,000
List Price
$235,000
Assumable Rate
2.77%
Remaining Balance
$213,950
Equity Gap
$21,050
Loan Type
FHAAdjust Your Scenario
$11,750
$11,750$21,050
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (FHA)
Blended Rate: 2.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,411/moAssumable @ 2.77% + gap loan
$941/moAssumed loan: $876/mo
Gap financing: $65/mo
$470less per month with the assumable
Your Savings on This Property
1661 Idalia Circle, Aurora · 2.77% FHA vs 6.5% conventional
$470
per month
$5,644
per year
$169,331
over 30 years
$169,331
interest saved
How gap financing works: The equity gap ($21,050) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,750, 5% of purchase price) and a second mortgage for the rest ($9,300 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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