Loan Comparison: 3.16% vs 6.5%
1159 Waco, Aurora, CO 80017 · 3bd/3ba · $310,000
List Price
$310,000
Assumable Rate
3.16%
Remaining Balance
$219,509
Equity Gap
$90,490
Loan Type
FHAAdjust Your Scenario
$15,500
$15,500$90,490
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (FHA)
Blended Rate: 4.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,861/moAssumable @ 3.16% + gap loan
$1,521/moAssumed loan: $945/mo
Gap financing: $577/mo
$340less per month with the assumable
Your Savings on This Property
1159 Waco, Aurora · 3.16% FHA vs 6.5% conventional
$340
per month
$4,084
per year
$122,517
over 30 years
$122,516
interest saved
How gap financing works: The equity gap ($90,490) 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 ($74,990 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.