Loan Comparison: 3.9% vs 6.5%
1281 Worchester, Aurora, CO 80011 · 4bd/2ba · $390,000
List Price
$390,000
Assumable Rate
3.9%
Remaining Balance
$187,535
Equity Gap
$202,465
Loan Type
FHAAdjust Your Scenario
$19,500
$19,500$202,465
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.9% (FHA)
Blended Rate: 6.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,342/moAssumable @ 3.9% + gap loan
$2,291/moAssumed loan: $885/mo
Gap financing: $1,407/mo
$50less per month with the assumable
Your Savings on This Property
1281 Worchester, Aurora · 3.9% FHA vs 6.5% conventional
$50
per month
$605
per year
$18,154
over 30 years
$18,154
interest saved
How gap financing works: The equity gap ($202,465) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,500, 5% of purchase price) and a second mortgage for the rest ($182,965 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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