Loan Comparison: 3.61% vs 6.5%
3771 Danube, Aurora, CO 80013 · 4bd/3ba · $305,000
List Price
$305,000
Assumable Rate
3.61%
Remaining Balance
$145,509
Equity Gap
$159,491
Loan Type
FHAAdjust Your Scenario
$15,250
$15,250$159,491
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 6.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,831/moAssumable @ 3.61% + gap loan
$1,771/moAssumed loan: $662/mo
Gap financing: $1,109/mo
$60less per month with the assumable
Your Savings on This Property
3771 Danube, Aurora · 3.61% FHA vs 6.5% conventional
$60
per month
$720
per year
$21,586
over 30 years
$21,586
interest saved
How gap financing works: The equity gap ($159,491) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,250, 5% of purchase price) and a second mortgage for the rest ($144,241 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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