Loan Comparison: 3.06% vs 6.5%
1915 Oakland, Aurora, CO 80014 · 2bd/2ba · $325,000
List Price
$325,000
Assumable Rate
3.06%
Remaining Balance
$299,101
Equity Gap
$23,942
Loan Type
FHAAdjust Your Scenario
$16,250
$16,250$23,942
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 3.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 3.06% + gap loan
$1,330/moAssumed loan: $1,271/mo
Gap financing: $59/mo
$622less per month with the assumable
Your Savings on This Property
1915 Oakland, Aurora · 3.06% FHA vs 6.5% conventional
$622
per month
$7,460
per year
$223,792
over 30 years
$221,835
interest saved
How gap financing works: The equity gap ($23,942) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($7,692 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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