Loan Comparison: 4.27% vs 6.5%
3865 Dayton, Aurora, CO 80014 · 2bd/2ba · $365,900
List Price
$365,900
Assumable Rate
4.27%
Remaining Balance
$259,983
Equity Gap
$105,917
Loan Type
FHAAdjust Your Scenario
$18,295
$18,295$105,917
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.27% (FHA)
Blended Rate: 5.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,197/moAssumable @ 4.27% + gap loan
$1,956/moAssumed loan: $1,282/mo
Gap financing: $674/mo
$241less per month with the assumable
Your Savings on This Property
3865 Dayton, Aurora · 4.27% FHA vs 6.5% conventional
$241
per month
$2,896
per year
$86,888
over 30 years
$86,888
interest saved
How gap financing works: The equity gap ($105,917) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,295, 5% of purchase price) and a second mortgage for the rest ($87,622 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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