Loan Comparison: 3.07% vs 6.5%
19044 16th, Aurora, CO 80011 · 4bd/2ba · $355,000
List Price
$355,000
Assumable Rate
3.07%
Remaining Balance
$253,076
Equity Gap
$118,938
Loan Type
FHAAdjust Your Scenario
$17,750
$17,750$118,938
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,132/moAssumable @ 3.07% + gap loan
$1,855/moAssumed loan: $1,077/mo
Gap financing: $778/mo
$277less per month with the assumable
Your Savings on This Property
19044 16th, Aurora · 3.07% FHA vs 6.5% conventional
$277
per month
$3,325
per year
$99,736
over 30 years
$116,750
interest saved
How gap financing works: The equity gap ($118,938) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,750, 5% of purchase price) and a second mortgage for the rest ($101,188 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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