Loan Comparison: 2.68% vs 6.5%
19558 58th, Aurora, CO 80019 · 3bd/3ba · $499,000
List Price
$499,000
Assumable Rate
2.68%
Remaining Balance
$370,542
Equity Gap
$128,457
Loan Type
FHAAdjust Your Scenario
$24,950
$24,950$128,457
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 3.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 2.68% + gap loan
$2,295/moAssumed loan: $1,499/mo
Gap financing: $796/mo
$701less per month with the assumable
Your Savings on This Property
19558 58th, Aurora · 2.68% FHA vs 6.5% conventional
$701
per month
$8,417
per year
$252,518
over 30 years
$252,517
interest saved
How gap financing works: The equity gap ($128,457) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($103,507 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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