Loan Comparison: 2.79% vs 6.5%
3626 Granby Way, Aurora, CO 80014 · 1bd/1ba · $219,000
List Price
$219,000
Assumable Rate
2.79%
Remaining Balance
$191,045
Equity Gap
$27,954
Loan Type
FHAAdjust Your Scenario
$10,950
$10,950$27,954
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.79% (FHA)
Blended Rate: 3.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,315/moAssumable @ 2.79% + gap loan
$903/moAssumed loan: $784/mo
Gap financing: $119/mo
$412less per month with the assumable
Your Savings on This Property
3626 Granby Way, Aurora · 2.79% FHA vs 6.5% conventional
$412
per month
$4,946
per year
$148,372
over 30 years
$148,371
interest saved
How gap financing works: The equity gap ($27,954) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,950, 5% of purchase price) and a second mortgage for the rest ($17,004 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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