Loan Comparison: 2.84% vs 6.5%
1876 Pitkin, Aurora, CO 80017 · 2bd/2ba · $213,900
List Price
$213,900
Assumable Rate
2.84%
Remaining Balance
$202,936
Equity Gap
$10,963
Loan Type
FHAAdjust Your Scenario
$10,695
$10,695$10,963
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (FHA)
Blended Rate: 2.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,284/moAssumable @ 2.84% + gap loan
$840/moAssumed loan: $838/mo
Gap financing: $2/mo
$444less per month with the assumable
Your Savings on This Property
1876 Pitkin, Aurora · 2.84% FHA vs 6.5% conventional
$444
per month
$5,330
per year
$159,897
over 30 years
$159,896
interest saved
How gap financing works: The equity gap ($10,963) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,695, 5% of purchase price) and a second mortgage for the rest ($268 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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