Loan Comparison: 4.27% vs 6.5%
18897 Montana, Aurora, CO 80017 · 3bd/2ba · $410,000
List Price
$410,000
Assumable Rate
4.27%
Remaining Balance
$326,904
Equity Gap
$120,085
Loan Type
FHAAdjust Your Scenario
$20,500
$20,500$120,085
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.27% (FHA)
Blended Rate: 5.26%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 4.27% + gap loan
$2,378/moAssumed loan: $1,612/mo
Gap financing: $766/mo
$84less per month with the assumable
Your Savings on This Property
18897 Montana, Aurora · 4.27% FHA vs 6.5% conventional
$84
per month
$1,010
per year
$30,305
over 30 years
$67,294
interest saved
How gap financing works: The equity gap ($120,085) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,500, 5% of purchase price) and a second mortgage for the rest ($99,585 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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