Loan Comparison: 4.37% vs 6.5%
11778 Canal Drive, Aurora, CO 80011 · 3bd/2ba · $275,000
List Price
$275,000
Assumable Rate
4.37%
Remaining Balance
$218,815
Equity Gap
$56,184
Loan Type
FHAAdjust Your Scenario
$13,750
$13,750$56,184
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.37% (FHA)
Blended Rate: 4.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,651/moAssumable @ 4.37% + gap loan
$1,389/moAssumed loan: $1,092/mo
Gap financing: $297/mo
$263less per month with the assumable
Your Savings on This Property
11778 Canal Drive, Aurora · 4.37% FHA vs 6.5% conventional
$263
per month
$3,152
per year
$94,575
over 30 years
$94,574
interest saved
How gap financing works: The equity gap ($56,184) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,750, 5% of purchase price) and a second mortgage for the rest ($42,434 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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