Loan Comparison: 3.99% vs 6.5%
23450 5th Drive, Aurora, CO 80018 · 2bd/2ba · $245,000
List Price
$245,000
Assumable Rate
3.99%
Remaining Balance
$175,121
Equity Gap
$69,878
Loan Type
FHAAdjust Your Scenario
$12,250
$12,250$69,878
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.99% (FHA)
Blended Rate: 4.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,471/moAssumable @ 3.99% + gap loan
$1,238/moAssumed loan: $835/mo
Gap financing: $403/mo
$233less per month with the assumable
Your Savings on This Property
23450 5th Drive, Aurora · 3.99% FHA vs 6.5% conventional
$233
per month
$2,798
per year
$83,934
over 30 years
$83,933
interest saved
How gap financing works: The equity gap ($69,878) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,250, 5% of purchase price) and a second mortgage for the rest ($57,628 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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