Loan Comparison: 3.72% vs 6.5%
19268 Caspian, Aurora, CO 80013 · 4bd/4ba · $510,000
List Price
$510,000
Assumable Rate
3.72%
Remaining Balance
$467,839
Equity Gap
$133,108
Loan Type
FHAAdjust Your Scenario
$25,500
$25,500$133,108
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.72% (FHA)
Blended Rate: 4.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,062/moAssumable @ 3.72% + gap loan
$2,986/moAssumed loan: $2,159/mo
Gap financing: $827/mo
$76less per month with the assumable
Your Savings on This Property
19268 Caspian, Aurora · 3.72% FHA vs 6.5% conventional
$76
per month
$915
per year
$27,460
over 30 years
$118,407
interest saved
How gap financing works: The equity gap ($133,108) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,500, 5% of purchase price) and a second mortgage for the rest ($107,608 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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