Loan Comparison: 2.84% vs 6.5%
1861 Dunkirk, Aurora, CO 80017 · 2bd/2ba · $285,000
List Price
$285,000
Assumable Rate
2.84%
Remaining Balance
$241,118
Equity Gap
$53,155
Loan Type
FHAAdjust Your Scenario
$14,250
$14,250$53,155
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (FHA)
Blended Rate: 3.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,711/moAssumable @ 2.84% + gap loan
$1,295/moAssumed loan: $996/mo
Gap financing: $299/mo
$416less per month with the assumable
Your Savings on This Property
1861 Dunkirk, Aurora · 2.84% FHA vs 6.5% conventional
$416
per month
$4,996
per year
$149,869
over 30 years
$159,142
interest saved
How gap financing works: The equity gap ($53,155) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,250, 5% of purchase price) and a second mortgage for the rest ($38,905 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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