Loan Comparison: 3.1% vs 6.5%
15137 Nassau, Aurora, CO 80014 · 4bd/4ba · $565,000
List Price
$565,000
Assumable Rate
3.1%
Remaining Balance
$464,742
Equity Gap
$99,270
Loan Type
FHAAdjust Your Scenario
$28,250
$28,250$99,270
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (FHA)
Blended Rate: 3.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 3.1% + gap loan
$2,531/moAssumed loan: $1,985/mo
Gap financing: $546/mo
$862less per month with the assumable
Your Savings on This Property
15137 Nassau, Aurora · 3.1% FHA vs 6.5% conventional
$862
per month
$10,344
per year
$310,327
over 30 years
$309,339
interest saved
How gap financing works: The equity gap ($99,270) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($71,020 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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