Loan Comparison: 4.55% vs 6.5%
535 Kenton Street, Aurora, CO 80010 · 4bd/4ba · $520,000
List Price
$520,000
Assumable Rate
4.55%
Remaining Balance
$276,294
Equity Gap
$243,705
Loan Type
FHAAdjust Your Scenario
$26,000
$26,000$243,705
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.55% (FHA)
Blended Rate: 5.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 4.55% + gap loan
$2,930/moAssumed loan: $1,408/mo
Gap financing: $1,522/mo
$192less per month with the assumable
Your Savings on This Property
535 Kenton Street, Aurora · 4.55% FHA vs 6.5% conventional
$192
per month
$2,304
per year
$69,131
over 30 years
$69,130
interest saved
How gap financing works: The equity gap ($243,705) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($217,705 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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