Loan Comparison: 4.03% vs 6.5%
1691 Idalia, Aurora, CO 80017 · 3bd/3ba · $315,000
List Price
$315,000
Assumable Rate
4.03%
Remaining Balance
$172,933
Equity Gap
$142,470
Loan Type
FHAAdjust Your Scenario
$15,750
$15,750$142,470
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.03% (FHA)
Blended Rate: 5.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,891/moAssumable @ 4.03% + gap loan
$1,803/moAssumed loan: $829/mo
Gap financing: $974/mo
$88less per month with the assumable
Your Savings on This Property
1691 Idalia, Aurora · 4.03% FHA vs 6.5% conventional
$88
per month
$1,062
per year
$31,858
over 30 years
$32,261
interest saved
How gap financing works: The equity gap ($142,470) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,750, 5% of purchase price) and a second mortgage for the rest ($126,720 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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