Loan Comparison: 2.81% vs 6.5%
4573 Quintero, Aurora, CO 80015 · 3bd/1ba · $425,000
List Price
$425,000
Assumable Rate
2.81%
Remaining Balance
$332,080
Equity Gap
$92,919
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$92,919
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 3.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 2.81% + gap loan
$1,917/moAssumed loan: $1,366/mo
Gap financing: $551/mo
$635less per month with the assumable
Your Savings on This Property
4573 Quintero, Aurora · 2.81% FHA vs 6.5% conventional
$635
per month
$7,616
per year
$228,470
over 30 years
$228,469
interest saved
How gap financing works: The equity gap ($92,919) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($71,669 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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