Loan Comparison: 4.14% vs 6.5%
2497 Victor, Aurora, CO 80014 · 3bd/2ba · $300,000
List Price
$300,000
Assumable Rate
4.14%
Remaining Balance
$247,494
Equity Gap
$51,970
Loan Type
FHAAdjust Your Scenario
$15,000
$15,000$51,970
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.14% (FHA)
Blended Rate: 4.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 4.14% + gap loan
$1,486/moAssumed loan: $1,202/mo
Gap financing: $284/mo
$315less per month with the assumable
Your Savings on This Property
2497 Victor, Aurora · 4.14% FHA vs 6.5% conventional
$315
per month
$3,786
per year
$113,576
over 30 years
$113,040
interest saved
How gap financing works: The equity gap ($51,970) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($36,970 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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