Loan Comparison: 3.61% vs 6.5%
413 De Gaulle, Aurora, CO 80018 · 6bd/4ba · $680,000
List Price
$680,000
Assumable Rate
3.61%
Remaining Balance
$330,660
Equity Gap
$348,591
Loan Type
FHAAdjust Your Scenario
$34,000
$34,000$348,591
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 5.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,083/moAssumable @ 3.61% + gap loan
$3,924/moAssumed loan: $1,505/mo
Gap financing: $2,419/mo
$159less per month with the assumable
Your Savings on This Property
413 De Gaulle, Aurora · 3.61% FHA vs 6.5% conventional
$159
per month
$1,908
per year
$57,254
over 30 years
$56,505
interest saved
How gap financing works: The equity gap ($348,591) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,000, 5% of purchase price) and a second mortgage for the rest ($314,591 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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