Loan Comparison: 3.08% vs 6.5%
1444 Helena, Aurora, CO 80017 · 5bd/2ba · $450,000
List Price
$450,000
Assumable Rate
3.08%
Remaining Balance
$352,005
Equity Gap
$97,994
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$97,994
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (FHA)
Blended Rate: 4.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.08% + gap loan
$2,080/moAssumed loan: $1,499/mo
Gap financing: $580/mo
$622less per month with the assumable
Your Savings on This Property
1444 Helena, Aurora · 3.08% FHA vs 6.5% conventional
$622
per month
$7,468
per year
$224,031
over 30 years
$224,030
interest saved
How gap financing works: The equity gap ($97,994) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($75,494 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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