Loan Comparison: 2.24% vs 6.5%
15671 Jefferson, Aurora, CO 80013 · 4bd/3ba · $514,900
List Price
$514,900
Assumable Rate
2.24%
Remaining Balance
$371,270
Equity Gap
$294,012
Loan Type
FHAAdjust Your Scenario
$25,745
$25,745$294,012
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.24% (FHA)
Blended Rate: 4.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 2.24% + gap loan
$3,480/moAssumed loan: $1,417/mo
Gap financing: $2,063/mo
Your Savings on This Property
15671 Jefferson, Aurora · 2.24% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$10,622
interest saved
How gap financing works: The equity gap ($294,012) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,745, 5% of purchase price) and a second mortgage for the rest ($268,267 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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