Loan Comparison: 3.37% vs 6.5%
1006 Eaton Park, Aurora, CO 80018 · 3bd/3ba · $600,000
List Price
$600,000
Assumable Rate
3.37%
Remaining Balance
$559,127
Equity Gap
$40,872
Loan Type
FHAAdjust Your Scenario
$30,000
$30,000$40,872
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.37% (FHA)
Blended Rate: 3.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 3.37% + gap loan
$2,554/moAssumed loan: $2,470/mo
Gap financing: $84/mo
$1,049less per month with the assumable
Your Savings on This Property
1006 Eaton Park, Aurora · 3.37% FHA vs 6.5% conventional
$1,049
per month
$12,586
per year
$377,589
over 30 years
$377,588
interest saved
How gap financing works: The equity gap ($40,872) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,000, 5% of purchase price) and a second mortgage for the rest ($10,872 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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