Loan Comparison: 4.75% vs 6.5%
3471 Buchanan, Aurora, CO 80019 · 2bd/2ba · $475,000
List Price
$475,000
Assumable Rate
4.75%
Remaining Balance
$415,594
Equity Gap
$59,406
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$59,406
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.75% (FHA)
Blended Rate: 5.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 4.75% + gap loan
$2,442/moAssumed loan: $2,168/mo
Gap financing: $274/mo
$410less per month with the assumable
Your Savings on This Property
3471 Buchanan, Aurora · 4.75% FHA vs 6.5% conventional
$410
per month
$4,921
per year
$147,639
over 30 years
$147,639
interest saved
How gap financing works: The equity gap ($59,406) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($35,656 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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