Loan Comparison: 4.27% vs 6.5%
13937 Bails, Aurora, CO 80012 · 3bd/2ba · $315,000
List Price
$315,000
Assumable Rate
4.27%
Remaining Balance
$197,429
Equity Gap
$117,571
Loan Type
FHAAdjust Your Scenario
$15,750
$15,750$117,571
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.27% (FHA)
Blended Rate: 5.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,891/moAssumable @ 4.27% + gap loan
$1,756/moAssumed loan: $974/mo
Gap financing: $783/mo
$135less per month with the assumable
Your Savings on This Property
13937 Bails, Aurora · 4.27% FHA vs 6.5% conventional
$135
per month
$1,620
per year
$48,601
over 30 years
$48,601
interest saved
How gap financing works: The equity gap ($117,571) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,750, 5% of purchase price) and a second mortgage for the rest ($101,821 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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