Loan Comparison: 3.77% vs 6.5%
13230 Jewell, Aurora, CO 80012 · 2bd/2ba · $220,000
List Price
$220,000
Assumable Rate
3.77%
Remaining Balance
$173,780
Equity Gap
$46,220
Loan Type
FHAAdjust Your Scenario
$11,000
$11,000$46,220
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (FHA)
Blended Rate: 4.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,321/moAssumable @ 3.77% + gap loan
$1,078/moAssumed loan: $807/mo
Gap financing: $271/mo
$243less per month with the assumable
Your Savings on This Property
13230 Jewell, Aurora · 3.77% FHA vs 6.5% conventional
$243
per month
$2,921
per year
$87,637
over 30 years
$87,637
interest saved
How gap financing works: The equity gap ($46,220) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,000, 5% of purchase price) and a second mortgage for the rest ($35,220 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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