Loan Comparison: 4.03% vs 6.5%
1691 Idalia, Aurora, CO 80017 · 3bd/3ba · $312,500
List Price
$312,500
Assumable Rate
4.03%
Remaining Balance
$172,529
Equity Gap
$139,970
Loan Type
FHAAdjust Your Scenario
$15,625
$15,625$139,970
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.03% (FHA)
Blended Rate: 5.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,876/moAssumable @ 4.03% + gap loan
$1,783/moAssumed loan: $827/mo
Gap financing: $956/mo
$94less per month with the assumable
Your Savings on This Property
1691 Idalia, Aurora · 4.03% FHA vs 6.5% conventional
$94
per month
$1,124
per year
$33,725
over 30 years
$33,724
interest saved
How gap financing works: The equity gap ($139,970) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,625, 5% of purchase price) and a second mortgage for the rest ($124,345 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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