Loan Comparison: 4.98% vs 6.5%
4075 Hannibal, Aurora, CO 80013 · 4bd/4ba · $579,000
List Price
$579,000
Assumable Rate
4.98%
Remaining Balance
$406,692
Equity Gap
$172,307
Loan Type
FHAAdjust Your Scenario
$28,950
$28,950$172,307
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,477/moAssumable @ 4.98% + gap loan
$3,281/moAssumed loan: $2,178/mo
Gap financing: $1,102/mo
$196less per month with the assumable
Your Savings on This Property
4075 Hannibal, Aurora · 4.98% FHA vs 6.5% conventional
$196
per month
$2,354
per year
$70,616
over 30 years
$70,615
interest saved
How gap financing works: The equity gap ($172,307) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,950, 5% of purchase price) and a second mortgage for the rest ($143,357 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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