Loan Comparison: 3.6% vs 6.5%
4005 Killarney, Aurora, CO 80013 · 4bd/3ba · $545,000
List Price
$545,000
Assumable Rate
3.6%
Remaining Balance
$190,773
Equity Gap
$382,967
Loan Type
FHAAdjust Your Scenario
$27,250
$27,250$382,967
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.6% (FHA)
Blended Rate: 6.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,273/moAssumable @ 3.6% + gap loan
$3,602/moAssumed loan: $867/mo
Gap financing: $2,735/mo
Your Savings on This Property
4005 Killarney, Aurora · 3.6% 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 ($382,967) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,250, 5% of purchase price) and a second mortgage for the rest ($355,717 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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