Loan Comparison: 3.96% vs 6.5%
3093 Olathe, Aurora, CO 80013 · 2bd/2ba · $450,000
List Price
$450,000
Assumable Rate
3.96%
Remaining Balance
$380,224
Equity Gap
$99,472
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$99,472
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.96% (FHA)
Blended Rate: 4.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.96% + gap loan
$2,398/moAssumed loan: $1,806/mo
Gap financing: $592/mo
$304less per month with the assumable
Your Savings on This Property
3093 Olathe, Aurora · 3.96% FHA vs 6.5% conventional
$304
per month
$3,645
per year
$109,351
over 30 years
$139,047
interest saved
How gap financing works: The equity gap ($99,472) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($76,972 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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