Loan Comparison: 6.65% vs 6.5%
17990 Cornell Drive, Aurora, CO 80013 · 3bd/3ba · $429,000
List Price
$429,000
Assumable Rate
6.65%
Remaining Balance
$387,002
Equity Gap
$41,998
Loan Type
FHAAdjust Your Scenario
$21,450
$21,450$41,998
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.65% (FHA)
Blended Rate: 6.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,576/moAssumable @ 6.65% + gap loan
$2,628/moAssumed loan: $2,484/mo
Gap financing: $144/mo
Your Savings on This Property
17990 Cornell Drive, Aurora · 6.65% 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 ($41,998) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,450, 5% of purchase price) and a second mortgage for the rest ($20,548 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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