Loan Comparison: 5.62% vs 6.5%
1232 Waco Street, Aurora, CO 80017 · 2bd/2ba · $249,900
List Price
$249,900
Assumable Rate
5.62%
Remaining Balance
$51,914
Equity Gap
$197,985
Loan Type
FHAAdjust Your Scenario
$12,495
$12,495$197,985
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.62% (FHA)
Blended Rate: 7.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,501/moAssumable @ 5.62% + gap loan
$1,596/moAssumed loan: $299/mo
Gap financing: $1,297/mo
Your Savings on This Property
1232 Waco Street, Aurora · 5.62% 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 ($197,985) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,495, 5% of purchase price) and a second mortgage for the rest ($185,490 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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