Loan Comparison: 3.06% vs 6.5%
19303 College, Aurora, CO 80013 · 1bd/1ba · $221,999
List Price
$221,999
Assumable Rate
3.06%
Remaining Balance
$192,260
Equity Gap
$29,738
Loan Type
FHAAdjust Your Scenario
$11,100
$11,100$29,738
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 3.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,333/moAssumable @ 3.06% + gap loan
$960/moAssumed loan: $817/mo
Gap financing: $143/mo
$373less per month with the assumable
Your Savings on This Property
19303 College, Aurora · 3.06% FHA vs 6.5% conventional
$373
per month
$4,475
per year
$134,246
over 30 years
$134,245
interest saved
How gap financing works: The equity gap ($29,738) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,100, 5% of purchase price) and a second mortgage for the rest ($18,638 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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