Loan Comparison: 2.9% vs 6.5%
4170 Himalaya, Aurora, CO 80013 · 3bd/2ba · $445,000
List Price
$445,000
Assumable Rate
2.9%
Remaining Balance
$351,704
Equity Gap
$142,417
Loan Type
FHAAdjust Your Scenario
$22,250
$22,250$142,417
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 4.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,672/moAssumable @ 2.9% + gap loan
$2,388/moAssumed loan: $1,464/mo
Gap financing: $924/mo
$284less per month with the assumable
Your Savings on This Property
4170 Himalaya, Aurora · 2.9% FHA vs 6.5% conventional
$284
per month
$3,410
per year
$102,308
over 30 years
$151,429
interest saved
How gap financing works: The equity gap ($142,417) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,250, 5% of purchase price) and a second mortgage for the rest ($120,167 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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