Loan Comparison: 3.01% vs 6.5%
15648 Mexico Avenue, Aurora, CO 80249 · 3bd/3ba · $324,900
List Price
$324,900
Assumable Rate
3.01%
Remaining Balance
$251,145
Equity Gap
$73,754
Loan Type
FHAAdjust Your Scenario
$16,245
$16,245$73,754
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.01% (FHA)
Blended Rate: 3.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,951/moAssumable @ 3.01% + gap loan
$1,462/moAssumed loan: $1,060/mo
Gap financing: $402/mo
$489less per month with the assumable
Your Savings on This Property
15648 Mexico Avenue, Aurora · 3.01% FHA vs 6.5% conventional
$489
per month
$5,863
per year
$175,898
over 30 years
$175,897
interest saved
How gap financing works: The equity gap ($73,754) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,245, 5% of purchase price) and a second mortgage for the rest ($57,509 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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