Loan Comparison: 3.61% vs 6.5%
3771 Danube, Aurora, CO 80013 · 4bd/3ba · $280,000
List Price
$280,000
Assumable Rate
3.61%
Remaining Balance
$145,106
Equity Gap
$134,089
Loan Type
FHAAdjust Your Scenario
$14,000
$14,000$134,089
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 5.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,681/moAssumable @ 3.61% + gap loan
$1,584/moAssumed loan: $661/mo
Gap financing: $923/mo
$97less per month with the assumable
Your Savings on This Property
3771 Danube, Aurora · 3.61% FHA vs 6.5% conventional
$97
per month
$1,169
per year
$35,059
over 30 years
$34,254
interest saved
How gap financing works: The equity gap ($134,089) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,000, 5% of purchase price) and a second mortgage for the rest ($120,089 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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