Loan Comparison: 3.28% vs 6.5%
932 Quintero Court, Aurora, CO 80017 · 3bd/3ba · $520,000
List Price
$520,000
Assumable Rate
3.28%
Remaining Balance
$357,991
Equity Gap
$162,008
Loan Type
FHAAdjust Your Scenario
$26,000
$26,000$162,008
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.28% (FHA)
Blended Rate: 4.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 3.28% + gap loan
$2,515/moAssumed loan: $1,564/mo
Gap financing: $951/mo
$608less per month with the assumable
Your Savings on This Property
932 Quintero Court, Aurora · 3.28% FHA vs 6.5% conventional
$608
per month
$7,290
per year
$218,710
over 30 years
$218,709
interest saved
How gap financing works: The equity gap ($162,008) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($136,008 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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