Loan Comparison: 3.69% vs 6.5%
23584 5th, Aurora, CO 80018 · 3bd/3ba · $403,900
List Price
$403,900
Assumable Rate
3.69%
Remaining Balance
$286,787
Equity Gap
$115,242
Loan Type
FHAAdjust Your Scenario
$20,195
$20,195$115,242
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 4.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,425/moAssumable @ 3.69% + gap loan
$2,049/moAssumed loan: $1,318/mo
Gap financing: $731/mo
$376less per month with the assumable
Your Savings on This Property
23584 5th, Aurora · 3.69% FHA vs 6.5% conventional
$376
per month
$4,512
per year
$135,373
over 30 years
$133,502
interest saved
How gap financing works: The equity gap ($115,242) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,195, 5% of purchase price) and a second mortgage for the rest ($95,047 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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