Loan Comparison: 3.07% vs 6.5%
19467 62nd, Aurora, CO 80019 · 3bd/4ba · $485,000
List Price
$485,000
Assumable Rate
3.07%
Remaining Balance
$284,877
Equity Gap
$201,929
Loan Type
FHAAdjust Your Scenario
$24,250
$24,250$201,929
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 5.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 3.07% + gap loan
$2,578/moAssumed loan: $1,212/mo
Gap financing: $1,366/mo
$334less per month with the assumable
Your Savings on This Property
19467 62nd, Aurora · 3.07% FHA vs 6.5% conventional
$334
per month
$4,011
per year
$120,320
over 30 years
$122,126
interest saved
How gap financing works: The equity gap ($201,929) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($177,679 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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