Loan Comparison: 3.23% vs 6.5%
2101 Victor, Aurora, CO 80014 · 2bd/2ba · $310,000
List Price
$310,000
Assumable Rate
3.23%
Remaining Balance
$251,259
Equity Gap
$67,864
Loan Type
FHAAdjust Your Scenario
$15,500
$15,500$67,864
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,861/moAssumable @ 3.23% + gap loan
$1,493/moAssumed loan: $1,091/mo
Gap financing: $403/mo
$368less per month with the assumable
Your Savings on This Property
2101 Victor, Aurora · 3.23% FHA vs 6.5% conventional
$368
per month
$4,417
per year
$132,504
over 30 years
$141,627
interest saved
How gap financing works: The equity gap ($67,864) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,500, 5% of purchase price) and a second mortgage for the rest ($52,364 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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