Loan Comparison: 3.06% vs 6.5%
1387 Danube, Aurora, CO 80017 · 2bd/3ba · $349,999
List Price
$349,999
Assumable Rate
3.06%
Remaining Balance
$235,610
Equity Gap
$113,871
Loan Type
FHAAdjust Your Scenario
$17,500
$17,500$113,871
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 4.64%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 3.06% + gap loan
$1,742/moAssumed loan: $1,001/mo
Gap financing: $741/mo
$360less per month with the assumable
Your Savings on This Property
1387 Danube, Aurora · 3.06% FHA vs 6.5% conventional
$360
per month
$4,316
per year
$129,466
over 30 years
$128,948
interest saved
How gap financing works: The equity gap ($113,871) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($96,371 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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