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
$388,115
Equity Gap
$81,884
Loan Type
FHAAdjust Your Scenario
$23,500
$23,500$81,884
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (FHA)
Blended Rate: 3.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 3.08% + gap loan
$2,102/moAssumed loan: $1,653/mo
Gap financing: $449/mo
$720less per month with the assumable
Your Savings on This Property
6745 Tempe, Aurora · 3.08% FHA vs 6.5% conventional
$720
per month
$8,642
per year
$259,257
over 30 years
$259,256
interest saved
How gap financing works: The equity gap ($81,884) 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 ($58,384 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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