Loan Comparison: 2.94% vs 6.5%
1435 Macon Street, Aurora, CO 80012 · 4bd/3ba · $624,995
List Price
$624,995
Assumable Rate
2.94%
Remaining Balance
$404,361
Equity Gap
$220,633
Loan Type
FHAAdjust Your Scenario
$31,250
$31,250$220,633
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (FHA)
Blended Rate: 4.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 2.94% + gap loan
$3,016/moAssumed loan: $1,692/mo
Gap financing: $1,324/mo
$737less per month with the assumable
Your Savings on This Property
1435 Macon Street, Aurora · 2.94% FHA vs 6.5% conventional
$737
per month
$8,843
per year
$265,297
over 30 years
$265,295
interest saved
How gap financing works: The equity gap ($220,633) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($189,383 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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