Loan Comparison: 3.31% vs 6.5%
18290 Harvard, Aurora, CO 80013 · 6bd/5ba · $720,000
List Price
$720,000
Assumable Rate
3.31%
Remaining Balance
$549,162
Equity Gap
$335,312
Loan Type
FHAAdjust Your Scenario
$36,000
$36,000$335,312
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 5.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,323/moAssumable @ 3.31% + gap loan
$4,710/moAssumed loan: $2,408/mo
Gap financing: $2,301/mo
Your Savings on This Property
18290 Harvard, Aurora · 3.31% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$25,437
interest saved
How gap financing works: The equity gap ($335,312) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,000, 5% of purchase price) and a second mortgage for the rest ($299,312 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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