Loan Comparison: 3.07% vs 6.5%
16474 Girard, Aurora, CO 80013 · 4bd/3ba · $489,000
List Price
$489,000
Assumable Rate
3.07%
Remaining Balance
$363,603
Equity Gap
$126,163
Loan Type
FHAAdjust Your Scenario
$24,450
$24,450$126,163
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.26%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,936/moAssumable @ 3.07% + gap loan
$2,329/moAssumed loan: $1,547/mo
Gap financing: $782/mo
$607less per month with the assumable
Your Savings on This Property
16474 Girard, Aurora · 3.07% FHA vs 6.5% conventional
$607
per month
$7,290
per year
$218,686
over 30 years
$219,452
interest saved
How gap financing works: The equity gap ($126,163) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,450, 5% of purchase price) and a second mortgage for the rest ($101,713 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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