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
$174,162
Equity Gap
$45,837
Loan Type
FHAAdjust Your Scenario
$11,000
$11,000$45,837
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (FHA)
Blended Rate: 4.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,321/moAssumable @ 3.77% + gap loan
$1,076/moAssumed loan: $809/mo
Gap financing: $268/mo
$245less per month with the assumable
Your Savings on This Property
13230 Jewell, Aurora · 3.77% FHA vs 6.5% conventional
$245
per month
$2,935
per year
$88,058
over 30 years
$88,057
interest saved
How gap financing works: The equity gap ($45,837) 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 ($34,837 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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