Loan Comparison: 2.68% vs 6.5%
1685 Kenton, Aurora, CO 80012 · 6bd/4ba · $530,000
List Price
$530,000
Assumable Rate
2.68%
Remaining Balance
$422,417
Equity Gap
$162,144
Loan Type
FHAAdjust Your Scenario
$26,500
$26,500$162,144
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 4.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 2.68% + gap loan
$2,752/moAssumed loan: $1,709/mo
Gap financing: $1,043/mo
$431less per month with the assumable
Your Savings on This Property
1685 Kenton, Aurora · 2.68% FHA vs 6.5% conventional
$431
per month
$5,167
per year
$155,023
over 30 years
$209,584
interest saved
How gap financing works: The equity gap ($162,144) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,500, 5% of purchase price) and a second mortgage for the rest ($135,644 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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