Loan Comparison: 3.17% vs 6.5%
17907 Bethany, Aurora, CO 80013 · 2bd/1ba · $369,900
List Price
$369,900
Assumable Rate
3.17%
Remaining Balance
$301,830
Equity Gap
$80,307
Loan Type
FHAAdjust Your Scenario
$18,495
$18,495$80,307
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.17% (FHA)
Blended Rate: 4.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,221/moAssumable @ 3.17% + gap loan
$1,776/moAssumed loan: $1,300/mo
Gap financing: $475/mo
$445less per month with the assumable
Your Savings on This Property
17907 Bethany, Aurora · 3.17% FHA vs 6.5% conventional
$445
per month
$5,346
per year
$160,369
over 30 years
$172,606
interest saved
How gap financing works: The equity gap ($80,307) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,495, 5% of purchase price) and a second mortgage for the rest ($61,812 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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