Loan Comparison: 2.95% vs 6.5%
2622 Xanadu, Aurora, CO 80014 · 2bd/2ba · $285,000
List Price
$285,000
Assumable Rate
2.95%
Remaining Balance
$257,866
Equity Gap
$27,133
Loan Type
FHAAdjust Your Scenario
$14,250
$14,250$27,133
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.95% (FHA)
Blended Rate: 3.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,711/moAssumable @ 2.95% + gap loan
$1,179/moAssumed loan: $1,080/mo
Gap financing: $99/mo
$532less per month with the assumable
Your Savings on This Property
2622 Xanadu, Aurora · 2.95% FHA vs 6.5% conventional
$532
per month
$6,384
per year
$191,532
over 30 years
$191,531
interest saved
How gap financing works: The equity gap ($27,133) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,250, 5% of purchase price) and a second mortgage for the rest ($12,883 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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