Loan Comparison: 3.8% vs 6.5%
13660 Evans, Aurora, CO 80014 · 2bd/3ba · $365,000
List Price
$365,000
Assumable Rate
3.8%
Remaining Balance
$86,665
Equity Gap
$278,335
Loan Type
FHAAdjust Your Scenario
$18,250
$18,250$278,335
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (FHA)
Blended Rate: 7.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,192/moAssumable @ 3.8% + gap loan
$2,404/moAssumed loan: $404/mo
Gap financing: $2,000/mo
Your Savings on This Property
13660 Evans, Aurora · 3.8% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($278,335) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,250, 5% of purchase price) and a second mortgage for the rest ($260,085 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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