Loan Comparison: 3.72% vs 6.5%
17769 Iowa, Aurora, CO 80017 · 3bd/2ba · $395,000
List Price
$395,000
Assumable Rate
3.72%
Remaining Balance
$277,939
Equity Gap
$127,167
Loan Type
FHAAdjust Your Scenario
$19,750
$19,750$127,167
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.72% (FHA)
Blended Rate: 5.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 3.72% + gap loan
$2,108/moAssumed loan: $1,282/mo
Gap financing: $826/mo
$263less per month with the assumable
Your Savings on This Property
17769 Iowa, Aurora · 3.72% FHA vs 6.5% conventional
$263
per month
$3,161
per year
$94,838
over 30 years
$104,944
interest saved
How gap financing works: The equity gap ($127,167) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($107,417 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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