Loan Comparison: 3.42% vs 6.5%
14205 25th, Aurora, CO 80011 · 4bd/2ba · $465,000
List Price
$465,000
Assumable Rate
3.42%
Remaining Balance
$209,294
Equity Gap
$255,706
Loan Type
FHAAdjust Your Scenario
$23,250
$23,250$255,706
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.42% (FHA)
Blended Rate: 6.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 3.42% + gap loan
$2,718/moAssumed loan: $931/mo
Gap financing: $1,787/mo
$74less per month with the assumable
Your Savings on This Property
14205 25th, Aurora · 3.42% FHA vs 6.5% conventional
$74
per month
$891
per year
$26,738
over 30 years
$26,738
interest saved
How gap financing works: The equity gap ($255,706) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($232,456 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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