Loan Comparison: 2.88% vs 6.5%
2125 Troy Way, Aurora, CO 80113 · 2bd/4ba · $324,000
List Price
$324,000
Assumable Rate
2.88%
Remaining Balance
$264,427
Equity Gap
$59,572
Loan Type
FHAAdjust Your Scenario
$16,200
$16,200$59,572
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (FHA)
Blended Rate: 3.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,946/moAssumable @ 2.88% + gap loan
$1,401/moAssumed loan: $1,098/mo
Gap financing: $303/mo
$544less per month with the assumable
Your Savings on This Property
2125 Troy Way, Aurora · 2.88% FHA vs 6.5% conventional
$544
per month
$6,533
per year
$196,001
over 30 years
$196,000
interest saved
How gap financing works: The equity gap ($59,572) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,200, 5% of purchase price) and a second mortgage for the rest ($43,372 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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