Loan Comparison: 3.16% vs 6.5%
1328 Dayton, Aurora, CO 80010 · 2bd/1ba · $335,000
List Price
$335,000
Assumable Rate
3.16%
Remaining Balance
$237,571
Equity Gap
$97,429
Loan Type
FHAAdjust Your Scenario
$16,750
$16,750$97,429
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (FHA)
Blended Rate: 4.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,012/moAssumable @ 3.16% + gap loan
$1,643/moAssumed loan: $1,022/mo
Gap financing: $620/mo
$369less per month with the assumable
Your Savings on This Property
1328 Dayton, Aurora · 3.16% FHA vs 6.5% conventional
$369
per month
$4,428
per year
$132,833
over 30 years
$132,833
interest saved
How gap financing works: The equity gap ($97,429) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,750, 5% of purchase price) and a second mortgage for the rest ($80,679 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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