Loan Comparison: 4.75% vs 6.5%
4066 Atchison, Aurora, CO 80014 · 2bd/1ba · $235,000
List Price
$235,000
Assumable Rate
4.75%
Remaining Balance
$173,057
Equity Gap
$59,569
Loan Type
FHAAdjust Your Scenario
$11,750
$11,750$59,569
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.75% (FHA)
Blended Rate: 5.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,411/moAssumable @ 4.75% + gap loan
$1,270/moAssumed loan: $903/mo
Gap financing: $368/mo
$141less per month with the assumable
Your Savings on This Property
4066 Atchison, Aurora · 4.75% FHA vs 6.5% conventional
$141
per month
$1,688
per year
$50,637
over 30 years
$48,263
interest saved
How gap financing works: The equity gap ($59,569) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,750, 5% of purchase price) and a second mortgage for the rest ($47,819 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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