Loan Comparison: 2.77% vs 6.5%
22655 Ontario, Aurora, CO 80016 · 2bd/2ba · $349,500
List Price
$349,500
Assumable Rate
2.77%
Remaining Balance
$255,688
Equity Gap
$133,812
Loan Type
FHAAdjust Your Scenario
$17,475
$17,475$133,812
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (FHA)
Blended Rate: 4.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,099/moAssumable @ 2.77% + gap loan
$1,941/moAssumed loan: $1,047/mo
Gap financing: $895/mo
$158less per month with the assumable
Your Savings on This Property
22655 Ontario, Aurora · 2.77% FHA vs 6.5% conventional
$158
per month
$1,891
per year
$56,721
over 30 years
$96,721
interest saved
How gap financing works: The equity gap ($133,812) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,475, 5% of purchase price) and a second mortgage for the rest ($116,337 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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