Loan Comparison: 3.05% vs 6.5%
725 Kingston, Aurora, CO 80010 · 2bd/1ba · $370,000
List Price
$370,000
Assumable Rate
3.05%
Remaining Balance
$307,417
Equity Gap
$74,406
Loan Type
FHAAdjust Your Scenario
$18,500
$18,500$74,406
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.05% (FHA)
Blended Rate: 3.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 3.05% + gap loan
$1,734/moAssumed loan: $1,304/mo
Gap financing: $430/mo
$487less per month with the assumable
Your Savings on This Property
725 Kingston, Aurora · 3.05% FHA vs 6.5% conventional
$487
per month
$5,850
per year
$175,487
over 30 years
$187,310
interest saved
How gap financing works: The equity gap ($74,406) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($55,906 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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