Loan Comparison: 3.06% vs 6.5%
1387 Danube, Aurora, CO 80017 · 2bd/3ba · $329,900
List Price
$329,900
Assumable Rate
3.06%
Remaining Balance
$235,091
Equity Gap
$94,809
Loan Type
FHAAdjust Your Scenario
$16,495
$16,495$94,809
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 4.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,981/moAssumable @ 3.06% + gap loan
$1,601/moAssumed loan: $999/mo
Gap financing: $602/mo
$380less per month with the assumable
Your Savings on This Property
1387 Danube, Aurora · 3.06% FHA vs 6.5% conventional
$380
per month
$4,560
per year
$136,796
over 30 years
$136,796
interest saved
How gap financing works: The equity gap ($94,809) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,495, 5% of purchase price) and a second mortgage for the rest ($78,314 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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