Loan Comparison: 3.19% vs 6.5%
17477 Rice, Aurora, CO 80015 · 1bd/1ba · $205,000
List Price
$205,000
Assumable Rate
3.19%
Remaining Balance
$114,671
Equity Gap
$90,329
Loan Type
FHAAdjust Your Scenario
$10,250
$10,250$90,329
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.19% (FHA)
Blended Rate: 5.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,231/moAssumable @ 3.19% + gap loan
$1,111/moAssumed loan: $495/mo
Gap financing: $616/mo
$120less per month with the assumable
Your Savings on This Property
17477 Rice, Aurora · 3.19% FHA vs 6.5% conventional
$120
per month
$1,439
per year
$43,174
over 30 years
$43,174
interest saved
How gap financing works: The equity gap ($90,329) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,250, 5% of purchase price) and a second mortgage for the rest ($80,079 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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