Loan Comparison: 3.31% vs 6.5%
1584 Fraser, Aurora, CO 80012 · 5bd/4ba · $540,000
List Price
$540,000
Assumable Rate
3.31%
Remaining Balance
$337,910
Equity Gap
$202,090
Loan Type
FHAAdjust Your Scenario
$27,000
$27,000$202,090
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 5.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 3.31% + gap loan
$2,828/moAssumed loan: $1,482/mo
Gap financing: $1,346/mo
$414less per month with the assumable
Your Savings on This Property
1584 Fraser, Aurora · 3.31% FHA vs 6.5% conventional
$414
per month
$4,974
per year
$149,206
over 30 years
$149,206
interest saved
How gap financing works: The equity gap ($202,090) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($175,090 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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