Loan Comparison: 2.94% vs 6.5%
1435 Macon, Aurora, CO 80012 · 4bd/3ba · $794,995
List Price
$794,995
Assumable Rate
2.94%
Remaining Balance
$406,263
Equity Gap
$388,732
Loan Type
FHAAdjust Your Scenario
$39,750
$39,750$388,732
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (FHA)
Blended Rate: 5.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,774/moAssumable @ 2.94% + gap loan
$4,383/moAssumed loan: $1,700/mo
Gap financing: $2,683/mo
$391less per month with the assumable
Your Savings on This Property
1435 Macon, Aurora · 2.94% FHA vs 6.5% conventional
$391
per month
$4,687
per year
$140,613
over 30 years
$140,613
interest saved
How gap financing works: The equity gap ($388,732) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,750, 5% of purchase price) and a second mortgage for the rest ($348,982 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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