Loan Comparison: 3.47% vs 6.5%
1117 Ventura, Aurora, CO 80017 · 2bd/3ba · $275,000
List Price
$275,000
Assumable Rate
3.47%
Remaining Balance
$275,586
Equity Gap
$61,042
Loan Type
FHAAdjust Your Scenario
$13,750
$13,750$61,042
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (FHA)
Blended Rate: 4.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,651/moAssumable @ 3.47% + gap loan
$1,597/moAssumed loan: $1,233/mo
Gap financing: $364/mo
$55less per month with the assumable
Your Savings on This Property
1117 Ventura, Aurora · 3.47% FHA vs 6.5% conventional
$55
per month
$657
per year
$19,710
over 30 years
$81,338
interest saved
How gap financing works: The equity gap ($61,042) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,750, 5% of purchase price) and a second mortgage for the rest ($47,292 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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