Loan Comparison: 4.67% vs 6.5%
22803 Progress, Aurora, CO 80015 · 4bd/3ba · $570,000
List Price
$570,000
Assumable Rate
4.67%
Remaining Balance
$520,190
Equity Gap
$49,810
Loan Type
FHAAdjust Your Scenario
$28,500
$28,500$49,810
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.67% (FHA)
Blended Rate: 4.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,423/moAssumable @ 4.67% + gap loan
$2,852/moAssumed loan: $2,689/mo
Gap financing: $164/mo
$570less per month with the assumable
Your Savings on This Property
22803 Progress, Aurora · 4.67% FHA vs 6.5% conventional
$570
per month
$6,843
per year
$205,295
over 30 years
$205,295
interest saved
How gap financing works: The equity gap ($49,810) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,500, 5% of purchase price) and a second mortgage for the rest ($21,310 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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