Loan Comparison: 4.47% vs 6.5%
12835 Louisiana, Aurora, CO 80012 · 2bd/2ba · $305,000
List Price
$305,000
Assumable Rate
4.47%
Remaining Balance
$209,801
Equity Gap
$105,624
Loan Type
FHAAdjust Your Scenario
$15,250
$15,250$105,624
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.47% (FHA)
Blended Rate: 5.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,831/moAssumable @ 4.47% + gap loan
$1,754/moAssumed loan: $1,059/mo
Gap financing: $695/mo
$77less per month with the assumable
Your Savings on This Property
12835 Louisiana, Aurora · 4.47% FHA vs 6.5% conventional
$77
per month
$927
per year
$27,801
over 30 years
$38,226
interest saved
How gap financing works: The equity gap ($105,624) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,250, 5% of purchase price) and a second mortgage for the rest ($90,374 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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