Loan Comparison: 3.7% vs 6.5%
1652 Idalia, Aurora, CO 80017 · 2bd/3ba · $300,000
List Price
$300,000
Assumable Rate
3.7%
Remaining Balance
$169,852
Equity Gap
$143,684
Loan Type
FHAAdjust Your Scenario
$15,000
$15,000$143,684
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.7% (FHA)
Blended Rate: 5.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 3.7% + gap loan
$1,771/moAssumed loan: $782/mo
Gap financing: $989/mo
$30less per month with the assumable
Your Savings on This Property
1652 Idalia, Aurora · 3.7% FHA vs 6.5% conventional
$30
per month
$362
per year
$10,845
over 30 years
$24,381
interest saved
How gap financing works: The equity gap ($143,684) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($128,684 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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