Loan Comparison: 2.9% vs 6.5%
2645 Xanadu, Aurora, CO 80014 · 2bd/2ba · $360,000
List Price
$360,000
Assumable Rate
2.9%
Remaining Balance
$315,587
Equity Gap
$45,101
Loan Type
FHAAdjust Your Scenario
$18,000
$18,000$45,101
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 3.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,162/moAssumable @ 2.9% + gap loan
$1,522/moAssumed loan: $1,314/mo
Gap financing: $208/mo
$640less per month with the assumable
Your Savings on This Property
2645 Xanadu, Aurora · 2.9% FHA vs 6.5% conventional
$640
per month
$7,677
per year
$230,300
over 30 years
$230,988
interest saved
How gap financing works: The equity gap ($45,101) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,000, 5% of purchase price) and a second mortgage for the rest ($27,101 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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