Loan Comparison: 3.76% vs 6.5%
2662 Quintero, Aurora, CO 80013 · 3bd/3ba · $515,000
List Price
$515,000
Assumable Rate
3.76%
Remaining Balance
$406,604
Equity Gap
$143,396
Loan Type
FHAAdjust Your Scenario
$25,750
$25,750$143,396
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 4.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 3.76% + gap loan
$2,790/moAssumed loan: $1,885/mo
Gap financing: $905/mo
$302less per month with the assumable
Your Savings on This Property
2662 Quintero, Aurora · 3.76% FHA vs 6.5% conventional
$302
per month
$3,629
per year
$108,879
over 30 years
$143,879
interest saved
How gap financing works: The equity gap ($143,396) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($117,646 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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