Loan Comparison: 3.07% vs 6.5%
873 Troy, Aurora, CO 80011 · 4bd/2ba · $460,000
List Price
$460,000
Assumable Rate
3.07%
Remaining Balance
$410,875
Equity Gap
$49,125
Loan Type
FHAAdjust Your Scenario
$23,000
$23,000$49,125
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 3.07% + gap loan
$1,949/moAssumed loan: $1,748/mo
Gap financing: $201/mo
$813less per month with the assumable
Your Savings on This Property
873 Troy, Aurora · 3.07% FHA vs 6.5% conventional
$813
per month
$9,761
per year
$292,839
over 30 years
$292,839
interest saved
How gap financing works: The equity gap ($49,125) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($26,125 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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