Loan Comparison: 2.66% vs 6.5%
19375 Linvale, Aurora, CO 80013 · 5bd/4ba · $515,000
List Price
$515,000
Assumable Rate
2.66%
Remaining Balance
$310,848
Equity Gap
$202,669
Loan Type
FHAAdjust Your Scenario
$25,750
$25,750$202,669
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.66% (FHA)
Blended Rate: 4.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 2.66% + gap loan
$2,615/moAssumed loan: $1,254/mo
Gap financing: $1,360/mo
$478less per month with the assumable
Your Savings on This Property
19375 Linvale, Aurora · 2.66% FHA vs 6.5% conventional
$478
per month
$5,734
per year
$172,008
over 30 years
$170,525
interest saved
How gap financing works: The equity gap ($202,669) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($176,919 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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