Loan Comparison: 3.66% vs 6.5%
16984 Wyoming, Aurora, CO 80017 · 3bd/3ba · $409,900
List Price
$409,900
Assumable Rate
3.66%
Remaining Balance
$192,986
Equity Gap
$215,302
Loan Type
FHAAdjust Your Scenario
$20,495
$20,495$215,302
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.66% (FHA)
Blended Rate: 6.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,461/moAssumable @ 3.66% + gap loan
$2,382/moAssumed loan: $884/mo
Gap financing: $1,498/mo
$79less per month with the assumable
Your Savings on This Property
16984 Wyoming, Aurora · 3.66% FHA vs 6.5% conventional
$79
per month
$954
per year
$28,615
over 30 years
$27,003
interest saved
How gap financing works: The equity gap ($215,302) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,495, 5% of purchase price) and a second mortgage for the rest ($194,807 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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