Loan Comparison: 2.88% vs 6.5%
3903 Quemoy Way, Aurora, CO 80134 · 7bd/4ba · $625,000
List Price
$625,000
Assumable Rate
2.88%
Remaining Balance
$492,136
Equity Gap
$132,864
Loan Type
FHAAdjust Your Scenario
$31,250
$31,250$132,864
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (FHA)
Blended Rate: 3.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 2.88% + gap loan
$2,754/moAssumed loan: $2,043/mo
Gap financing: $710/mo
$999less per month with the assumable
Your Savings on This Property
3903 Quemoy Way, Aurora · 2.88% FHA vs 6.5% conventional
$999
per month
$11,991
per year
$359,731
over 30 years
$359,731
interest saved
How gap financing works: The equity gap ($132,864) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($101,614 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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