Loan Comparison: 3.77% vs 6.5%
3604 Nepal, Aurora, CO 80013 · 4bd/4ba · $645,000
List Price
$645,000
Assumable Rate
3.77%
Remaining Balance
$370,924
Equity Gap
$273,245
Loan Type
FHAAdjust Your Scenario
$32,250
$32,250$273,245
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (FHA)
Blended Rate: 5.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,873/moAssumable @ 3.77% + gap loan
$3,575/moAssumed loan: $1,722/mo
Gap financing: $1,853/mo
$298less per month with the assumable
Your Savings on This Property
3604 Nepal, Aurora · 3.77% FHA vs 6.5% conventional
$298
per month
$3,575
per year
$107,256
over 30 years
$106,425
interest saved
How gap financing works: The equity gap ($273,245) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,250, 5% of purchase price) and a second mortgage for the rest ($240,995 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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