Loan Comparison: 3.87% vs 6.5%
5733 Addison, Aurora, CO 80016 · 2bd/3ba · $349,999
List Price
$349,999
Assumable Rate
3.87%
Remaining Balance
$169,112
Equity Gap
$180,886
Loan Type
FHAAdjust Your Scenario
$17,500
$17,500$180,886
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.87% (FHA)
Blended Rate: 6.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 3.87% + gap loan
$2,051/moAssumed loan: $795/mo
Gap financing: $1,256/mo
$51less per month with the assumable
Your Savings on This Property
5733 Addison, Aurora · 3.87% FHA vs 6.5% conventional
$51
per month
$607
per year
$18,209
over 30 years
$18,208
interest saved
How gap financing works: The equity gap ($180,886) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($163,386 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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