Loan Comparison: 4.2% vs 6.5%
2669 Moline, Aurora, CO 80014 · 4bd/3ba · $585,000
List Price
$585,000
Assumable Rate
4.2%
Remaining Balance
$404,245
Equity Gap
$264,551
Loan Type
FHAAdjust Your Scenario
$29,250
$29,250$264,551
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.2% (FHA)
Blended Rate: 5.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 4.2% + gap loan
$3,786/moAssumed loan: $1,977/mo
Gap financing: $1,809/mo
Your Savings on This Property
2669 Moline, Aurora · 4.2% 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 ($264,551) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($235,301 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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