Loan Comparison: 4.83% vs 6.5%
4299 Ireland, Aurora, CO 80013 · 5bd/3ba · $499,900
List Price
$499,900
Assumable Rate
4.83%
Remaining Balance
$388,424
Equity Gap
$201,377
Loan Type
FHAAdjust Your Scenario
$24,995
$24,995$201,377
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.83% (FHA)
Blended Rate: 5.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 4.83% + gap loan
$3,401/moAssumed loan: $2,045/mo
Gap financing: $1,356/mo
Your Savings on This Property
4299 Ireland, Aurora · 4.83% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($201,377) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,995, 5% of purchase price) and a second mortgage for the rest ($176,382 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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