Loan Comparison: 4.75% vs 6.5%
4066 Atchison, Aurora, CO 80014 · 2bd/1ba · $220,000
List Price
$220,000
Assumable Rate
4.75%
Remaining Balance
$172,350
Equity Gap
$44,569
Loan Type
FHAAdjust Your Scenario
$11,000
$11,000$44,569
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.75% (FHA)
Blended Rate: 5.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,321/moAssumable @ 4.75% + gap loan
$1,157/moAssumed loan: $899/mo
Gap financing: $258/mo
$164less per month with the assumable
Your Savings on This Property
4066 Atchison, Aurora · 4.75% FHA vs 6.5% conventional
$164
per month
$1,966
per year
$58,985
over 30 years
$55,904
interest saved
How gap financing works: The equity gap ($44,569) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,000, 5% of purchase price) and a second mortgage for the rest ($33,569 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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