Loan Comparison: 3.25% vs 6.5%
7410 Old Hammer, Aurora, CO 80016 · 4bd/3ba · $620,000
List Price
$620,000
Assumable Rate
3.25%
Remaining Balance
$435,419
Equity Gap
$133,445
Loan Type
FHAAdjust Your Scenario
$31,000
$31,000$133,445
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.25% (FHA)
Blended Rate: 4.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,723/moAssumable @ 3.25% + gap loan
$2,683/moAssumed loan: $1,895/mo
Gap financing: $788/mo
$1,040less per month with the assumable
Your Savings on This Property
7410 Old Hammer, Aurora · 3.25% FHA vs 6.5% conventional
$1,040
per month
$12,482
per year
$374,471
over 30 years
$323,335
interest saved
How gap financing works: The equity gap ($133,445) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,000, 5% of purchase price) and a second mortgage for the rest ($102,445 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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