Loan Comparison: 3.98% vs 6.5%
800 Nile, Aurora, CO 80010 · 3bd/1ba · $384,900
List Price
$384,900
Assumable Rate
3.98%
Remaining Balance
$137,157
Equity Gap
$247,742
Loan Type
FHAAdjust Your Scenario
$19,245
$19,245$247,742
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.98% (FHA)
Blended Rate: 6.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,311/moAssumable @ 3.98% + gap loan
$2,410/moAssumed loan: $653/mo
Gap financing: $1,757/mo
Your Savings on This Property
800 Nile, Aurora · 3.98% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($247,742) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,245, 5% of purchase price) and a second mortgage for the rest ($228,497 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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