Loan Comparison: 4.2% vs 6.5%
2669 Moline, Aurora, CO 80014 · 4bd/3ba · $575,000
List Price
$575,000
Assumable Rate
4.2%
Remaining Balance
$319,649
Equity Gap
$255,350
Loan Type
FHAAdjust Your Scenario
$28,750
$28,750$255,350
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.2% (FHA)
Blended Rate: 5.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 4.2% + gap loan
$3,305/moAssumed loan: $1,563/mo
Gap financing: $1,742/mo
$147less per month with the assumable
Your Savings on This Property
2669 Moline, Aurora · 4.2% FHA vs 6.5% conventional
$147
per month
$1,766
per year
$52,983
over 30 years
$52,982
interest saved
How gap financing works: The equity gap ($255,350) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($226,600 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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