Loan Comparison: 3.06% vs 6.5%
19303 College, Aurora, CO 80013 · 1bd/1ba · $229,900
List Price
$229,900
Assumable Rate
3.06%
Remaining Balance
$192,687
Equity Gap
$36,788
Loan Type
FHAAdjust Your Scenario
$11,495
$11,495$36,788
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 3.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,380/moAssumable @ 3.06% + gap loan
$1,013/moAssumed loan: $819/mo
Gap financing: $194/mo
$367less per month with the assumable
Your Savings on This Property
19303 College, Aurora · 3.06% FHA vs 6.5% conventional
$367
per month
$4,408
per year
$132,250
over 30 years
$131,825
interest saved
How gap financing works: The equity gap ($36,788) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,495, 5% of purchase price) and a second mortgage for the rest ($25,293 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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