Loan Comparison: 3.16% vs 6.5%
1328 Dayton, Aurora, CO 80010 · 2bd/1ba · $324,900
List Price
$324,900
Assumable Rate
3.16%
Remaining Balance
$237,034
Equity Gap
$87,865
Loan Type
FHAAdjust Your Scenario
$16,245
$16,245$87,865
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (FHA)
Blended Rate: 4.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,951/moAssumable @ 3.16% + gap loan
$1,571/moAssumed loan: $1,020/mo
Gap financing: $551/mo
$380less per month with the assumable
Your Savings on This Property
1328 Dayton, Aurora · 3.16% FHA vs 6.5% conventional
$380
per month
$4,564
per year
$136,908
over 30 years
$136,907
interest saved
How gap financing works: The equity gap ($87,865) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,245, 5% of purchase price) and a second mortgage for the rest ($71,620 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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