Loan Comparison: 3.77% vs 6.5%
3604 Nepal, Aurora, CO 80013 · 4bd/3ba · $650,000
List Price
$650,000
Assumable Rate
3.77%
Remaining Balance
$399,915
Equity Gap
$278,245
Loan Type
FHAAdjust Your Scenario
$32,500
$32,500$278,245
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (FHA)
Blended Rate: 5.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 3.77% + gap loan
$3,746/moAssumed loan: $1,857/mo
Gap financing: $1,890/mo
$157less per month with the assumable
Your Savings on This Property
3604 Nepal, Aurora · 3.77% FHA vs 6.5% conventional
$157
per month
$1,882
per year
$56,464
over 30 years
$84,624
interest saved
How gap financing works: The equity gap ($278,245) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($245,745 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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