Loan Comparison: 3.08% vs 6.5%
11576 Bayaud, Aurora, CO 80012 · 2bd/2ba · $264,900
List Price
$264,900
Assumable Rate
3.08%
Remaining Balance
$233,885
Equity Gap
$37,601
Loan Type
FHAAdjust Your Scenario
$13,245
$13,245$37,601
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (FHA)
Blended Rate: 3.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,591/moAssumable @ 3.08% + gap loan
$1,183/moAssumed loan: $996/mo
Gap financing: $187/mo
$407less per month with the assumable
Your Savings on This Property
11576 Bayaud, Aurora · 3.08% FHA vs 6.5% conventional
$407
per month
$4,886
per year
$146,580
over 30 years
$153,166
interest saved
How gap financing works: The equity gap ($37,601) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,245, 5% of purchase price) and a second mortgage for the rest ($24,356 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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