Loan Comparison: 3.77% vs 6.5%
15726 Bails, Aurora, CO 80017 · 4bd/2ba · $485,000
List Price
$485,000
Assumable Rate
3.77%
Remaining Balance
$357,104
Equity Gap
$185,693
Loan Type
FHAAdjust Your Scenario
$24,250
$24,250$185,693
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (FHA)
Blended Rate: 5.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 3.77% + gap loan
$2,899/moAssumed loan: $1,658/mo
Gap financing: $1,241/mo
$13less per month with the assumable
Your Savings on This Property
15726 Bails, Aurora · 3.77% FHA vs 6.5% conventional
$13
per month
$156
per year
$4,693
over 30 years
$62,490
interest saved
How gap financing works: The equity gap ($185,693) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($161,443 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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