Loan Comparison: 3.23% vs 6.5%
14153 25th Place, Aurora, CO 80011 · 3bd/3ba · $457,000
List Price
$457,000
Assumable Rate
3.23%
Remaining Balance
$114,198
Equity Gap
$342,802
Loan Type
FHAAdjust Your Scenario
$22,850
$22,850$342,802
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 6.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,744/moAssumable @ 3.23% + gap loan
$2,733/moAssumed loan: $496/mo
Gap financing: $2,237/mo
$11less per month with the assumable
Your Savings on This Property
14153 25th Place, Aurora · 3.23% FHA vs 6.5% conventional
$11
per month
$135
per year
$4,042
over 30 years
$4,042
interest saved
How gap financing works: The equity gap ($342,802) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,850, 5% of purchase price) and a second mortgage for the rest ($319,952 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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