Loan Comparison: 3.62% vs 6.5%
14605 Warren, Aurora, CO 80014 · 5bd/4ba · $545,000
List Price
$545,000
Assumable Rate
3.62%
Remaining Balance
$318,517
Equity Gap
$226,482
Loan Type
FHAAdjust Your Scenario
$27,250
$27,250$226,482
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 5.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,273/moAssumable @ 3.62% + gap loan
$2,984/moAssumed loan: $1,452/mo
Gap financing: $1,532/mo
$289less per month with the assumable
Your Savings on This Property
14605 Warren, Aurora · 3.62% FHA vs 6.5% conventional
$289
per month
$3,467
per year
$104,006
over 30 years
$104,005
interest saved
How gap financing works: The equity gap ($226,482) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,250, 5% of purchase price) and a second mortgage for the rest ($199,232 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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