Loan Comparison: 4.38% vs 6.5%
2595 Joliet, Aurora, CO 80010 · 4bd/4ba · $740,000
List Price
$740,000
Assumable Rate
4.38%
Remaining Balance
$485,465
Equity Gap
$309,123
Loan Type
FHAAdjust Your Scenario
$37,000
$37,000$309,123
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.38% (FHA)
Blended Rate: 5.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,443/moAssumable @ 4.38% + gap loan
$4,518/moAssumed loan: $2,425/mo
Gap financing: $2,092/mo
Your Savings on This Property
2595 Joliet, Aurora · 4.38% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$27,862
interest saved
How gap financing works: The equity gap ($309,123) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,000, 5% of purchase price) and a second mortgage for the rest ($272,123 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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