Loan Comparison: 4.98% vs 6.5%
1387 Oswego, Aurora, CO 80012 · 4bd/3ba · $515,000
List Price
$515,000
Assumable Rate
4.98%
Remaining Balance
$462,426
Equity Gap
$49,066
Loan Type
FHAAdjust Your Scenario
$25,750
$25,750$49,066
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 4.98% + gap loan
$2,656/moAssumed loan: $2,477/mo
Gap financing: $179/mo
$436less per month with the assumable
Your Savings on This Property
1387 Oswego, Aurora · 4.98% FHA vs 6.5% conventional
$436
per month
$5,236
per year
$157,089
over 30 years
$153,581
interest saved
How gap financing works: The equity gap ($49,066) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($23,316 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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