Loan Comparison: 3.45% vs 6.5%
4628 Nepal, Aurora, CO 80015 · 3bd/3ba · $560,000
List Price
$560,000
Assumable Rate
3.45%
Remaining Balance
$382,905
Equity Gap
$216,180
Loan Type
FHAAdjust Your Scenario
$28,000
$28,000$216,180
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 5.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,363/moAssumable @ 3.45% + gap loan
$3,156/moAssumed loan: $1,709/mo
Gap financing: $1,447/mo
$207less per month with the assumable
Your Savings on This Property
4628 Nepal, Aurora · 3.45% FHA vs 6.5% conventional
$207
per month
$2,483
per year
$74,489
over 30 years
$113,574
interest saved
How gap financing works: The equity gap ($216,180) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,000, 5% of purchase price) and a second mortgage for the rest ($188,180 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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