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
$203,957
Equity Gap
$31,043
Loan Type
FHAAdjust Your Scenario
$11,750
$11,750$31,043
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 3.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,411/moAssumable @ 2.81% + gap loan
$987/moAssumed loan: $839/mo
Gap financing: $148/mo
$424less per month with the assumable
Your Savings on This Property
1184 Uvalda, Aurora · 2.81% FHA vs 6.5% conventional
$424
per month
$5,083
per year
$152,501
over 30 years
$152,501
interest saved
How gap financing works: The equity gap ($31,043) 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 ($19,293 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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