Loan Comparison: 4.23% vs 6.5%
15955 Bethany Place, Aurora, CO 80013 · 5bd/3ba · $385,000
List Price
$385,000
Assumable Rate
4.23%
Remaining Balance
$122,805
Equity Gap
$262,195
Loan Type
FHAAdjust Your Scenario
$19,250
$19,250$262,195
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.23% (FHA)
Blended Rate: 6.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,312/moAssumable @ 4.23% + gap loan
$2,301/moAssumed loan: $603/mo
Gap financing: $1,699/mo
$10less per month with the assumable
Your Savings on This Property
15955 Bethany Place, Aurora · 4.23% FHA vs 6.5% conventional
$10
per month
$125
per year
$3,741
over 30 years
$3,741
interest saved
How gap financing works: The equity gap ($262,195) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,250, 5% of purchase price) and a second mortgage for the rest ($242,945 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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