Loan Comparison: 3.62% vs 6.5%
11648 Cedar, Aurora, CO 80012 · 1bd/1ba · $250,000
List Price
$250,000
Assumable Rate
3.62%
Remaining Balance
$170,691
Equity Gap
$80,048
Loan Type
FHAAdjust Your Scenario
$12,500
$12,500$80,048
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 5.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,501/moAssumable @ 3.62% + gap loan
$1,297/moAssumed loan: $778/mo
Gap financing: $519/mo
$204less per month with the assumable
Your Savings on This Property
11648 Cedar, Aurora · 3.62% FHA vs 6.5% conventional
$204
per month
$2,446
per year
$73,374
over 30 years
$74,113
interest saved
How gap financing works: The equity gap ($80,048) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,500, 5% of purchase price) and a second mortgage for the rest ($67,548 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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