Loan Comparison: 5.54% vs 6.5%
1024 Mobile Street, Aurora, CO 80017 · 3bd/3ba · $450,000
List Price
$450,000
Assumable Rate
5.54%
Remaining Balance
$311,433
Equity Gap
$138,567
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$138,567
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.54% (FHA)
Blended Rate: 6.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 5.54% + gap loan
$2,588/moAssumed loan: $1,776/mo
Gap financing: $812/mo
$114less per month with the assumable
Your Savings on This Property
1024 Mobile Street, Aurora · 5.54% FHA vs 6.5% conventional
$114
per month
$1,373
per year
$41,194
over 30 years
$41,194
interest saved
How gap financing works: The equity gap ($138,567) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($116,067 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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