Loan Comparison: 3.81% vs 6.5%
3460 Halifax, Aurora, CO 80013 · 4bd/3ba · $495,000
List Price
$495,000
Assumable Rate
3.81%
Remaining Balance
$263,894
Equity Gap
$230,456
Loan Type
FHAAdjust Your Scenario
$24,750
$24,750$230,456
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.81% (FHA)
Blended Rate: 5.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 3.81% + gap loan
$2,813/moAssumed loan: $1,231/mo
Gap financing: $1,582/mo
$159less per month with the assumable
Your Savings on This Property
3460 Halifax, Aurora · 3.81% FHA vs 6.5% conventional
$159
per month
$1,914
per year
$57,406
over 30 years
$56,756
interest saved
How gap financing works: The equity gap ($230,456) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,750, 5% of purchase price) and a second mortgage for the rest ($205,706 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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