Loan Comparison: 3.61% vs 6.5%
1662 Idalia, Aurora, CO 80017 · 2bd/2ba · $304,999
List Price
$304,999
Assumable Rate
3.61%
Remaining Balance
$189,428
Equity Gap
$114,733
Loan Type
FHAAdjust Your Scenario
$15,250
$15,250$114,733
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 5.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,831/moAssumable @ 3.61% + gap loan
$1,627/moAssumed loan: $862/mo
Gap financing: $765/mo
$204less per month with the assumable
Your Savings on This Property
1662 Idalia, Aurora · 3.61% FHA vs 6.5% conventional
$204
per month
$2,450
per year
$73,506
over 30 years
$72,668
interest saved
How gap financing works: The equity gap ($114,733) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,250, 5% of purchase price) and a second mortgage for the rest ($99,483 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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