Loan Comparison: 3% vs 6.5%
10831 Lowry, Aurora, CO 80010 · 3bd/1ba · $298,000
List Price
$298,000
Assumable Rate
3%
Remaining Balance
$516,787
Equity Gap
$298,000
Loan Type
FHAAdjust Your Scenario
$14,900
$14,900$298,000
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3% (FHA)
Blended Rate: 4.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,789/moAssumable @ 3% + gap loan
$4,356/moAssumed loan: $2,179/mo
Gap financing: $2,177/mo
Your Savings on This Property
10831 Lowry, Aurora · 3% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($298,000) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,900, 5% of purchase price) and a second mortgage for the rest ($283,100 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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