Loan Comparison: 2.5% vs 6.5%
17224 Center, Aurora, CO 80017 · 3bd/3ba · $385,000
List Price
$385,000
Assumable Rate
2.5%
Remaining Balance
$363,181
Equity Gap
$93,319
Loan Type
FHAAdjust Your Scenario
$19,250
$19,250$93,319
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.5% (FHA)
Blended Rate: 3.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,312/moAssumable @ 2.5% + gap loan
$2,005/moAssumed loan: $1,435/mo
Gap financing: $570/mo
$307less per month with the assumable
Your Savings on This Property
17224 Center, Aurora · 2.5% FHA vs 6.5% conventional
$307
per month
$3,687
per year
$110,613
over 30 years
$182,113
interest saved
How gap financing works: The equity gap ($93,319) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,250, 5% of purchase price) and a second mortgage for the rest ($74,069 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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