Loan Comparison: 3.08% vs 6.5%
6745 Tempe, Aurora, CO 80016 · 3bd/4ba · $470,000
List Price
$470,000
Assumable Rate
3.08%
Remaining Balance
$388,966
Equity Gap
$81,034
Loan Type
FHAAdjust Your Scenario
$23,500
$23,500$81,034
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (FHA)
Blended Rate: 3.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 3.08% + gap loan
$2,099/moAssumed loan: $1,657/mo
Gap financing: $442/mo
$723less per month with the assumable
Your Savings on This Property
6745 Tempe, Aurora · 3.08% FHA vs 6.5% conventional
$723
per month
$8,677
per year
$260,305
over 30 years
$260,305
interest saved
How gap financing works: The equity gap ($81,034) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,500, 5% of purchase price) and a second mortgage for the rest ($57,534 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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