Loan Comparison: 2.875% vs 6.5%
4317 Netherland Court, Aurora, CO 80113 · 2bd/4ba · $474,900
List Price
$474,900
Assumable Rate
2.875%
Remaining Balance
$398,604
Equity Gap
$76,295
Loan Type
FHAAdjust Your Scenario
$23,745
$23,745$76,295
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.875% (FHA)
Blended Rate: 3.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 2.875% + gap loan
$2,021/moAssumed loan: $1,654/mo
Gap financing: $367/mo
$830less per month with the assumable
Your Savings on This Property
4317 Netherland Court, Aurora · 2.875% FHA vs 6.5% conventional
$830
per month
$9,965
per year
$298,941
over 30 years
$298,940
interest saved
How gap financing works: The equity gap ($76,295) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,745, 5% of purchase price) and a second mortgage for the rest ($52,550 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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