Loan Comparison: 2.81% vs 6.5%
1184 Uvalda, Aurora, CO 80012 · 2bd/1ba · $235,000
List Price
$235,000
Assumable Rate
2.81%
Remaining Balance
$204,428
Equity Gap
$30,572
Loan Type
FHAAdjust Your Scenario
$11,750
$11,750$30,572
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 3.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,411/moAssumable @ 2.81% + gap loan
$986/moAssumed loan: $841/mo
Gap financing: $145/mo
$425less per month with the assumable
Your Savings on This Property
1184 Uvalda, Aurora · 2.81% FHA vs 6.5% conventional
$425
per month
$5,104
per year
$153,107
over 30 years
$153,107
interest saved
How gap financing works: The equity gap ($30,572) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,750, 5% of purchase price) and a second mortgage for the rest ($18,822 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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