Loan Comparison: 3.41% vs 6.5%
4280 Halifax, Aurora, CO 80013 · 3bd/2ba · $399,900
List Price
$399,900
Assumable Rate
3.41%
Remaining Balance
$95,400
Equity Gap
$304,500
Loan Type
FHAAdjust Your Scenario
$19,995
$19,995$304,500
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.41% (FHA)
Blended Rate: 7.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,401/moAssumable @ 3.41% + gap loan
$2,611/moAssumed loan: $424/mo
Gap financing: $2,188/mo
Your Savings on This Property
4280 Halifax, Aurora · 3.41% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($304,500) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,995, 5% of purchase price) and a second mortgage for the rest ($284,505 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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