Loan Comparison: 4.2% vs 6.5%
12446 Kansas, Aurora, CO 80012 · 3bd/2ba · $350,000
List Price
$350,000
Assumable Rate
4.2%
Remaining Balance
$168,653
Equity Gap
$181,347
Loan Type
FHAAdjust Your Scenario
$17,500
$17,500$181,347
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.2% (FHA)
Blended Rate: 6.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 4.2% + gap loan
$2,085/moAssumed loan: $825/mo
Gap financing: $1,260/mo
$17less per month with the assumable
Your Savings on This Property
12446 Kansas, Aurora · 4.2% FHA vs 6.5% conventional
$17
per month
$205
per year
$6,135
over 30 years
$6,135
interest saved
How gap financing works: The equity gap ($181,347) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($163,847 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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