Loan Comparison: 2.74% vs 6.5%
3750 Granby, Aurora, CO 80014 · 3bd/2ba · $245,000
List Price
$245,000
Assumable Rate
2.74%
Remaining Balance
$230,114
Equity Gap
$14,885
Loan Type
FHAAdjust Your Scenario
$12,250
$12,250$14,885
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (FHA)
Blended Rate: 2.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,471/moAssumable @ 2.74% + gap loan
$958/moAssumed loan: $938/mo
Gap financing: $20/mo
$513less per month with the assumable
Your Savings on This Property
3750 Granby, Aurora · 2.74% FHA vs 6.5% conventional
$513
per month
$6,152
per year
$184,563
over 30 years
$184,562
interest saved
How gap financing works: The equity gap ($14,885) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,250, 5% of purchase price) and a second mortgage for the rest ($2,635 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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