Loan Comparison: 3.27% vs 6.5%
7417 Tempe, Aurora, CO 80016 · 4bd/4ba · $699,000
List Price
$699,000
Assumable Rate
3.27%
Remaining Balance
$565,608
Equity Gap
$233,392
Loan Type
FHAAdjust Your Scenario
$34,950
$34,950$233,392
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.27% (FHA)
Blended Rate: 4.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 3.27% + gap loan
$3,994/moAssumed loan: $2,468/mo
Gap financing: $1,526/mo
$204less per month with the assumable
Your Savings on This Property
7417 Tempe, Aurora · 3.27% FHA vs 6.5% conventional
$204
per month
$2,444
per year
$73,305
over 30 years
$173,305
interest saved
How gap financing works: The equity gap ($233,392) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($198,442 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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