Loan Comparison: 3.69% vs 6.5%
4790 Quintero, Aurora, CO 80015 · 2bd/2ba · $398,000
List Price
$398,000
Assumable Rate
3.69%
Remaining Balance
$179,554
Equity Gap
$218,941
Loan Type
FHAAdjust Your Scenario
$19,900
$19,900$218,941
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 6.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,390/moAssumable @ 3.69% + gap loan
$2,356/moAssumed loan: $825/mo
Gap financing: $1,530/mo
$34less per month with the assumable
Your Savings on This Property
4790 Quintero, Aurora · 3.69% FHA vs 6.5% conventional
$34
per month
$407
per year
$12,224
over 30 years
$12,719
interest saved
How gap financing works: The equity gap ($218,941) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,900, 5% of purchase price) and a second mortgage for the rest ($199,041 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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