Loan Comparison: 2.66% vs 6.5%
19062 Quinn Place, Aurora, CO 80015 · 5bd/3ba · $535,000
List Price
$535,000
Assumable Rate
2.66%
Remaining Balance
$111,617
Equity Gap
$423,382
Loan Type
FHAAdjust Your Scenario
$26,750
$26,750$423,382
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.66% (FHA)
Blended Rate: 6.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,212/moAssumable @ 2.66% + gap loan
$3,224/moAssumed loan: $450/mo
Gap financing: $2,773/mo
Your Savings on This Property
19062 Quinn Place, Aurora · 2.66% 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 ($423,382) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,750, 5% of purchase price) and a second mortgage for the rest ($396,632 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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