Loan Comparison: 3.62% vs 6.5%
422 Uvalda, Aurora, CO 80012 · 3bd/3ba · $460,000
List Price
$460,000
Assumable Rate
3.62%
Remaining Balance
$298,033
Equity Gap
$161,967
Loan Type
FHAAdjust Your Scenario
$23,000
$23,000$161,967
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 5.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 3.62% + gap loan
$2,427/moAssumed loan: $1,358/mo
Gap financing: $1,069/mo
$335less per month with the assumable
Your Savings on This Property
422 Uvalda, Aurora · 3.62% FHA vs 6.5% conventional
$335
per month
$4,023
per year
$120,692
over 30 years
$120,692
interest saved
How gap financing works: The equity gap ($161,967) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($138,967 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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