Loan Comparison: 4.27% vs 6.5%
13937 Bails, Aurora, CO 80012 · 3bd/2ba · $310,000
List Price
$310,000
Assumable Rate
4.27%
Remaining Balance
$195,761
Equity Gap
$114,239
Loan Type
FHAAdjust Your Scenario
$15,500
$15,500$114,239
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.27% (FHA)
Blended Rate: 5.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,861/moAssumable @ 4.27% + gap loan
$1,725/moAssumed loan: $965/mo
Gap financing: $759/mo
$137less per month with the assumable
Your Savings on This Property
13937 Bails, Aurora · 4.27% FHA vs 6.5% conventional
$137
per month
$1,643
per year
$49,285
over 30 years
$49,285
interest saved
How gap financing works: The equity gap ($114,239) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,500, 5% of purchase price) and a second mortgage for the rest ($98,739 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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