Loan Comparison: 6.42% vs 6.5%
6381 Patsburg Court, Aurora, CO 80016 · 3bd/4ba · $890,000
List Price
$890,000
Assumable Rate
6.42%
Remaining Balance
$803,192
Equity Gap
$86,807
Loan Type
FHAAdjust Your Scenario
$44,500
$44,500$86,807
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.42% (FHA)
Blended Rate: 6.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,344/moAssumable @ 6.42% + gap loan
$5,330/moAssumed loan: $5,035/mo
Gap financing: $296/mo
$14less per month with the assumable
Your Savings on This Property
6381 Patsburg Court, Aurora · 6.42% FHA vs 6.5% conventional
$14
per month
$165
per year
$4,962
over 30 years
$4,961
interest saved
How gap financing works: The equity gap ($86,807) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($44,500, 5% of purchase price) and a second mortgage for the rest ($42,307 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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