Loan Comparison: 3.8% vs 6.5%
14000 Linvale, Aurora, CO 80014 · 2bd/2ba · $357,999
List Price
$357,999
Assumable Rate
3.8%
Remaining Balance
$257,042
Equity Gap
$124,616
Loan Type
FHAAdjust Your Scenario
$17,900
$17,900$124,616
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (FHA)
Blended Rate: 5.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,150/moAssumable @ 3.8% + gap loan
$2,018/moAssumed loan: $1,198/mo
Gap financing: $821/mo
$131less per month with the assumable
Your Savings on This Property
14000 Linvale, Aurora · 3.8% FHA vs 6.5% conventional
$131
per month
$1,577
per year
$47,303
over 30 years
$70,962
interest saved
How gap financing works: The equity gap ($124,616) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,900, 5% of purchase price) and a second mortgage for the rest ($106,716 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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