Loan Comparison: 2.96% vs 6.5%
4442 Auckland Court, Aurora, CO 80129 · 3bd/3ba · $395,000
List Price
$395,000
Assumable Rate
2.96%
Remaining Balance
$167,528
Equity Gap
$227,471
Loan Type
FHAAdjust Your Scenario
$19,750
$19,750$227,471
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (FHA)
Blended Rate: 5.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 2.96% + gap loan
$2,155/moAssumed loan: $703/mo
Gap financing: $1,452/mo
$217less per month with the assumable
Your Savings on This Property
4442 Auckland Court, Aurora · 2.96% FHA vs 6.5% conventional
$217
per month
$2,601
per year
$78,021
over 30 years
$78,020
interest saved
How gap financing works: The equity gap ($227,471) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($207,721 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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