Loan Comparison: 2.95% vs 6.5%
2622 Xanadu, Aurora, CO 80014 · 2bd/2ba · $295,000
List Price
$295,000
Assumable Rate
2.95%
Remaining Balance
$269,981
Equity Gap
$35,979
Loan Type
FHAAdjust Your Scenario
$14,750
$14,750$35,979
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.95% (FHA)
Blended Rate: 3.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,771/moAssumable @ 2.95% + gap loan
$1,294/moAssumed loan: $1,131/mo
Gap financing: $163/mo
$477less per month with the assumable
Your Savings on This Property
2622 Xanadu, Aurora · 2.95% FHA vs 6.5% conventional
$477
per month
$5,726
per year
$171,776
over 30 years
$182,736
interest saved
How gap financing works: The equity gap ($35,979) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,750, 5% of purchase price) and a second mortgage for the rest ($21,229 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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