Loan Comparison: 3.68% vs 6.5%
21447 Union, Aurora, CO 80015 · 4bd/4ba · $699,000
List Price
$699,000
Assumable Rate
3.68%
Remaining Balance
$356,389
Equity Gap
$341,636
Loan Type
FHAAdjust Your Scenario
$34,950
$34,950$341,636
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.68% (FHA)
Blended Rate: 5.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 3.68% + gap loan
$3,995/moAssumed loan: $1,636/mo
Gap financing: $2,358/mo
$203less per month with the assumable
Your Savings on This Property
21447 Union, Aurora · 3.68% FHA vs 6.5% conventional
$203
per month
$2,433
per year
$72,982
over 30 years
$72,007
interest saved
How gap financing works: The equity gap ($341,636) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($306,686 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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