Loan Comparison: 3.69% vs 6.5%
363 Toledo, Aurora, CO 80011 · 5bd/3ba · $520,000
List Price
$520,000
Assumable Rate
3.69%
Remaining Balance
$248,898
Equity Gap
$270,554
Loan Type
FHAAdjust Your Scenario
$26,000
$26,000$270,554
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 6.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 3.69% + gap loan
$3,025/moAssumed loan: $1,144/mo
Gap financing: $1,880/mo
$98less per month with the assumable
Your Savings on This Property
363 Toledo, Aurora · 3.69% FHA vs 6.5% conventional
$98
per month
$1,173
per year
$35,201
over 30 years
$34,653
interest saved
How gap financing works: The equity gap ($270,554) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($244,554 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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