Loan Comparison: 3.81% vs 6.5%
3460 Halifax, Aurora, CO 80013 · 4bd/3ba · $479,000
List Price
$479,000
Assumable Rate
3.81%
Remaining Balance
$264,543
Equity Gap
$214,456
Loan Type
FHAAdjust Your Scenario
$23,950
$23,950$214,456
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.81% (FHA)
Blended Rate: 5.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,876/moAssumable @ 3.81% + gap loan
$2,699/moAssumed loan: $1,234/mo
Gap financing: $1,465/mo
$177less per month with the assumable
Your Savings on This Property
3460 Halifax, Aurora · 3.81% FHA vs 6.5% conventional
$177
per month
$2,127
per year
$63,805
over 30 years
$63,804
interest saved
How gap financing works: The equity gap ($214,456) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,950, 5% of purchase price) and a second mortgage for the rest ($190,506 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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