Loan Comparison: 3.69% vs 6.5%
933 Evanston, Aurora, CO 80012 · 2bd/3ba · $310,000
List Price
$310,000
Assumable Rate
3.69%
Remaining Balance
$275,162
Equity Gap
$34,838
Loan Type
FHAAdjust Your Scenario
$15,500
$15,500$34,838
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 4.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,861/moAssumable @ 3.69% + gap loan
$1,414/moAssumed loan: $1,265/mo
Gap financing: $149/mo
$448less per month with the assumable
Your Savings on This Property
933 Evanston, Aurora · 3.69% FHA vs 6.5% conventional
$448
per month
$5,373
per year
$161,201
over 30 years
$161,201
interest saved
How gap financing works: The equity gap ($34,838) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,500, 5% of purchase price) and a second mortgage for the rest ($19,338 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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