Loan Comparison: 3.87% vs 6.5%
5733 Addison, Aurora, CO 80016 · 2bd/3ba · $359,999
List Price
$359,999
Assumable Rate
3.87%
Remaining Balance
$85,030
Equity Gap
$189,467
Loan Type
FHAAdjust Your Scenario
$18,000
$18,000$189,467
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.87% (FHA)
Blended Rate: 6.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,162/moAssumable @ 3.87% + gap loan
$1,718/moAssumed loan: $400/mo
Gap financing: $1,318/mo
$444less per month with the assumable
Your Savings on This Property
5733 Addison, Aurora · 3.87% FHA vs 6.5% conventional
$444
per month
$5,324
per year
$159,708
over 30 years
$74,206
interest saved
How gap financing works: The equity gap ($189,467) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,000, 5% of purchase price) and a second mortgage for the rest ($171,467 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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