Loan Comparison: 3.43% vs 6.5%
22709 Ida Avenue, Aurora, CO 80237 · 2bd/2ba · $639,900
List Price
$639,900
Assumable Rate
3.43%
Remaining Balance
$262,764
Equity Gap
$377,136
Loan Type
FHAAdjust Your Scenario
$31,995
$31,995$377,136
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.43% (FHA)
Blended Rate: 5.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,842/moAssumable @ 3.43% + gap loan
$3,583/moAssumed loan: $1,170/mo
Gap financing: $2,413/mo
$259less per month with the assumable
Your Savings on This Property
22709 Ida Avenue, Aurora · 3.43% FHA vs 6.5% conventional
$259
per month
$3,113
per year
$93,389
over 30 years
$93,389
interest saved
How gap financing works: The equity gap ($377,136) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,995, 5% of purchase price) and a second mortgage for the rest ($345,141 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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