Loan Comparison: 4.16% vs 6.5%
23661 Alabama Drive, Aurora, CO 80013 · 3bd/2ba · $580,000
List Price
$580,000
Assumable Rate
4.16%
Remaining Balance
$527,720
Equity Gap
$52,279
Loan Type
FHAAdjust Your Scenario
$29,000
$29,000$52,279
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.16% (FHA)
Blended Rate: 4.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,483/moAssumable @ 4.16% + gap loan
$2,731/moAssumed loan: $2,568/mo
Gap financing: $163/mo
$752less per month with the assumable
Your Savings on This Property
23661 Alabama Drive, Aurora · 4.16% FHA vs 6.5% conventional
$752
per month
$9,019
per year
$270,572
over 30 years
$270,571
interest saved
How gap financing works: The equity gap ($52,279) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,000, 5% of purchase price) and a second mortgage for the rest ($23,279 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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