Loan Comparison: 3.9% vs 6.5%
17146 Tennessee, Aurora, CO 80017 · 2bd/1ba · $274,900
List Price
$274,900
Assumable Rate
3.9%
Remaining Balance
$137,367
Equity Gap
$137,192
Loan Type
FHAAdjust Your Scenario
$13,745
$13,745$137,192
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.9% (FHA)
Blended Rate: 6.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,651/moAssumable @ 3.9% + gap loan
$1,597/moAssumed loan: $648/mo
Gap financing: $949/mo
$54less per month with the assumable
Your Savings on This Property
17146 Tennessee, Aurora · 3.9% FHA vs 6.5% conventional
$54
per month
$643
per year
$19,282
over 30 years
$18,941
interest saved
How gap financing works: The equity gap ($137,192) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,745, 5% of purchase price) and a second mortgage for the rest ($123,447 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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