Loan Comparison: 4.15% vs 6.5%
1225 Dallas, Aurora, CO 80010 · 5bd/2ba · $400,000
List Price
$400,000
Assumable Rate
4.15%
Remaining Balance
$199,801
Equity Gap
$198,688
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$198,688
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.15% (FHA)
Blended Rate: 6.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 4.15% + gap loan
$2,345/moAssumed loan: $971/mo
Gap financing: $1,374/mo
$57less per month with the assumable
Your Savings on This Property
1225 Dallas, Aurora · 4.15% FHA vs 6.5% conventional
$57
per month
$680
per year
$20,399
over 30 years
$18,888
interest saved
How gap financing works: The equity gap ($198,688) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($178,688 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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