Loan Comparison: 3.62% vs 6.5%
11648 Cedar, Aurora, CO 80012 · 1bd/1ba · $239,900
List Price
$239,900
Assumable Rate
3.62%
Remaining Balance
$168,835
Equity Gap
$69,948
Loan Type
FHAAdjust Your Scenario
$11,995
$11,995$69,948
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 4.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,441/moAssumable @ 3.62% + gap loan
$1,215/moAssumed loan: $769/mo
Gap financing: $446/mo
$225less per month with the assumable
Your Savings on This Property
11648 Cedar, Aurora · 3.62% FHA vs 6.5% conventional
$225
per month
$2,705
per year
$81,147
over 30 years
$80,030
interest saved
How gap financing works: The equity gap ($69,948) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,995, 5% of purchase price) and a second mortgage for the rest ($57,953 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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