Loan Comparison: 3.07% vs 6.5%
1850 Nile, Aurora, CO 80012 · 4bd/4ba · $575,000
List Price
$575,000
Assumable Rate
3.07%
Remaining Balance
$454,973
Equity Gap
$162,088
Loan Type
FHAAdjust Your Scenario
$28,750
$28,750$162,088
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 3.07% + gap loan
$2,961/moAssumed loan: $1,935/mo
Gap financing: $1,025/mo
$492less per month with the assumable
Your Savings on This Property
1850 Nile, Aurora · 3.07% FHA vs 6.5% conventional
$492
per month
$5,904
per year
$177,125
over 30 years
$219,186
interest saved
How gap financing works: The equity gap ($162,088) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($133,338 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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