Loan Comparison: 3.6% vs 6.5%
17115 Nassau, Aurora, CO 80013 · 3bd/2ba · $400,000
List Price
$400,000
Assumable Rate
3.6%
Remaining Balance
$196,577
Equity Gap
$203,423
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$203,423
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.6% (FHA)
Blended Rate: 5.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 3.6% + gap loan
$2,304/moAssumed loan: $894/mo
Gap financing: $1,410/mo
$98less per month with the assumable
Your Savings on This Property
17115 Nassau, Aurora · 3.6% FHA vs 6.5% conventional
$98
per month
$1,173
per year
$35,196
over 30 years
$35,196
interest saved
How gap financing works: The equity gap ($203,423) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($183,423 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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