Loan Comparison: 3.72% vs 6.5%
17794 Arizona, Aurora, CO 80017 · 4bd/2ba · $450,000
List Price
$450,000
Assumable Rate
3.72%
Remaining Balance
$287,962
Equity Gap
$162,038
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$162,038
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.72% (FHA)
Blended Rate: 5.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.72% + gap loan
$2,402/moAssumed loan: $1,329/mo
Gap financing: $1,073/mo
$300less per month with the assumable
Your Savings on This Property
17794 Arizona, Aurora · 3.72% FHA vs 6.5% conventional
$300
per month
$3,606
per year
$108,167
over 30 years
$108,167
interest saved
How gap financing works: The equity gap ($162,038) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($139,538 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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