Loan Comparison: 2.68% vs 6.5%
1323 Sable, Aurora, CO 80012 · 2bd/2ba · $310,000
List Price
$310,000
Assumable Rate
2.68%
Remaining Balance
$238,640
Equity Gap
$71,359
Loan Type
FHAAdjust Your Scenario
$15,500
$15,500$71,359
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 3.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,861/moAssumable @ 2.68% + gap loan
$1,395/moAssumed loan: $965/mo
Gap financing: $430/mo
$467less per month with the assumable
Your Savings on This Property
1323 Sable, Aurora · 2.68% FHA vs 6.5% conventional
$467
per month
$5,598
per year
$167,951
over 30 years
$167,950
interest saved
How gap financing works: The equity gap ($71,359) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,500, 5% of purchase price) and a second mortgage for the rest ($55,859 at 8.5%). 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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