Loan Comparison: 4% vs 6.5%
23306 5th Place, Aurora, CO 80018 · 3bd/2ba · $300,000
List Price
$300,000
Assumable Rate
4%
Remaining Balance
$77,333
Equity Gap
$222,666
Loan Type
FHAAdjust Your Scenario
$15,000
$15,000$222,666
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (FHA)
Blended Rate: 6.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 4% + gap loan
$1,821/moAssumed loan: $369/mo
Gap financing: $1,452/mo
Your Savings on This Property
23306 5th Place, Aurora · 4% 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 ($222,666) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($207,666 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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