Loan Comparison: 2.87% vs 6.5%
3635 Truckee Way, Aurora, CO 80017 · 4bd/2ba · $475,500
List Price
$475,500
Assumable Rate
2.87%
Remaining Balance
$284,264
Equity Gap
$191,235
Loan Type
FHAAdjust Your Scenario
$23,775
$23,775$191,235
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 4.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,855/moAssumable @ 2.87% + gap loan
$2,350/moAssumed loan: $1,179/mo
Gap financing: $1,171/mo
$506less per month with the assumable
Your Savings on This Property
3635 Truckee Way, Aurora · 2.87% FHA vs 6.5% conventional
$506
per month
$6,068
per year
$182,043
over 30 years
$182,042
interest saved
How gap financing works: The equity gap ($191,235) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,775, 5% of purchase price) and a second mortgage for the rest ($167,460 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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