Loan Comparison: 3.06% vs 6.5%
21929 Stanford, Aurora, CO 80015 · 6bd/4ba · $675,000
List Price
$675,000
Assumable Rate
3.06%
Remaining Balance
$488,110
Equity Gap
$186,889
Loan Type
FHAAdjust Your Scenario
$33,750
$33,750$186,889
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 4.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,053/moAssumable @ 3.06% + gap loan
$3,251/moAssumed loan: $2,074/mo
Gap financing: $1,178/mo
$802less per month with the assumable
Your Savings on This Property
21929 Stanford, Aurora · 3.06% FHA vs 6.5% conventional
$802
per month
$9,623
per year
$288,688
over 30 years
$288,687
interest saved
How gap financing works: The equity gap ($186,889) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,750, 5% of purchase price) and a second mortgage for the rest ($153,139 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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