Loan Comparison: 3.07% vs 6.5%
11801 17th, Aurora, CO 80010 · 4bd/2ba · $485,000
List Price
$485,000
Assumable Rate
3.07%
Remaining Balance
$443,429
Equity Gap
$90,147
Loan Type
FHAAdjust Your Scenario
$24,250
$24,250$90,147
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 3.07% + gap loan
$2,393/moAssumed loan: $1,886/mo
Gap financing: $507/mo
$519less per month with the assumable
Your Savings on This Property
11801 17th, Aurora · 3.07% FHA vs 6.5% conventional
$519
per month
$6,231
per year
$186,936
over 30 years
$235,512
interest saved
How gap financing works: The equity gap ($90,147) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($65,897 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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