Loan Comparison: 6.87% vs 6.5%
18215 Warren Avenue, Aurora, CO 80013 · 5bd/4ba · $548,000
List Price
$548,000
Assumable Rate
6.87%
Remaining Balance
$422,528
Equity Gap
$125,472
Loan Type
FHAAdjust Your Scenario
$27,400
$27,400$125,472
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.87% (FHA)
Blended Rate: 6.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,291/moAssumable @ 6.87% + gap loan
$3,460/moAssumed loan: $2,774/mo
Gap financing: $686/mo
Your Savings on This Property
18215 Warren Avenue, Aurora · 6.87% 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 ($125,472) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,400, 5% of purchase price) and a second mortgage for the rest ($98,072 at 7.5%). 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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