Loan Comparison: 4.53% vs 6.5%
3146 Gibralter, Aurora, CO 80013 · 3bd/2ba · $345,000
List Price
$345,000
Assumable Rate
4.53%
Remaining Balance
$273,798
Equity Gap
$89,726
Loan Type
FHAAdjust Your Scenario
$17,250
$17,250$89,726
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.53% (FHA)
Blended Rate: 5.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,072/moAssumable @ 4.53% + gap loan
$1,949/moAssumed loan: $1,392/mo
Gap financing: $557/mo
$122less per month with the assumable
Your Savings on This Property
3146 Gibralter, Aurora · 4.53% FHA vs 6.5% conventional
$122
per month
$1,466
per year
$43,973
over 30 years
$62,497
interest saved
How gap financing works: The equity gap ($89,726) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,250, 5% of purchase price) and a second mortgage for the rest ($72,476 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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