Loan Comparison: 2.74% vs 6.5%
11913 Kepner, Aurora, CO 80012 · 2bd/3ba · $315,000
List Price
$315,000
Assumable Rate
2.74%
Remaining Balance
$224,827
Equity Gap
$90,173
Loan Type
FHAAdjust Your Scenario
$15,750
$15,750$90,173
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (FHA)
Blended Rate: 4.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,891/moAssumable @ 2.74% + gap loan
$1,489/moAssumed loan: $917/mo
Gap financing: $572/mo
$403less per month with the assumable
Your Savings on This Property
11913 Kepner, Aurora · 2.74% FHA vs 6.5% conventional
$403
per month
$4,831
per year
$144,925
over 30 years
$144,925
interest saved
How gap financing works: The equity gap ($90,173) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,750, 5% of purchase price) and a second mortgage for the rest ($74,423 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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