Loan Comparison: 3.57% vs 6.5%
3964 Quemoy, Aurora, CO 80018 · 3bd/3ba · $565,000
List Price
$565,000
Assumable Rate
3.57%
Remaining Balance
$309,238
Equity Gap
$391,130
Loan Type
FHAAdjust Your Scenario
$28,250
$28,250$391,130
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.57% (FHA)
Blended Rate: 6.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 3.57% + gap loan
$4,191/moAssumed loan: $1,401/mo
Gap financing: $2,790/mo
Your Savings on This Property
3964 Quemoy, Aurora · 3.57% 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 ($391,130) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($362,880 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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