Loan Comparison: 4.2% vs 6.5%
3085 Macon, Aurora, CO 80014 · 3bd/2ba · $360,000
List Price
$360,000
Assumable Rate
4.2%
Remaining Balance
$193,264
Equity Gap
$169,174
Loan Type
FHAAdjust Your Scenario
$18,000
$18,000$169,174
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.2% (FHA)
Blended Rate: 6.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,162/moAssumable @ 4.2% + gap loan
$2,107/moAssumed loan: $945/mo
Gap financing: $1,162/mo
$54less per month with the assumable
Your Savings on This Property
3085 Macon, Aurora · 4.2% FHA vs 6.5% conventional
$54
per month
$650
per year
$19,505
over 30 years
$21,943
interest saved
How gap financing works: The equity gap ($169,174) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,000, 5% of purchase price) and a second mortgage for the rest ($151,174 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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