Loan Comparison: 4.27% vs 6.5%
3794 Fairplay, Aurora, CO 80014 · 4bd/2ba · $339,999
List Price
$339,999
Assumable Rate
4.27%
Remaining Balance
$246,028
Equity Gap
$93,970
Loan Type
FHAAdjust Your Scenario
$17,000
$17,000$93,970
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.27% (FHA)
Blended Rate: 5.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,042/moAssumable @ 4.27% + gap loan
$1,805/moAssumed loan: $1,213/mo
Gap financing: $592/mo
$237less per month with the assumable
Your Savings on This Property
3794 Fairplay, Aurora · 4.27% FHA vs 6.5% conventional
$237
per month
$2,839
per year
$85,158
over 30 years
$85,157
interest saved
How gap financing works: The equity gap ($93,970) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,000, 5% of purchase price) and a second mortgage for the rest ($76,970 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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