Loan Comparison: 5.52% vs 6.5%
2520 Fairplay Way, Aurora, CO 80014 · 3bd/3ba · $549,000
List Price
$549,000
Assumable Rate
5.52%
Remaining Balance
$460,526
Equity Gap
$88,473
Loan Type
FHAAdjust Your Scenario
$27,450
$27,450$88,473
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (FHA)
Blended Rate: 5.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,297/moAssumable @ 5.52% + gap loan
$3,047/moAssumed loan: $2,621/mo
Gap financing: $427/mo
$249less per month with the assumable
Your Savings on This Property
2520 Fairplay Way, Aurora · 5.52% FHA vs 6.5% conventional
$249
per month
$2,991
per year
$89,738
over 30 years
$89,737
interest saved
How gap financing works: The equity gap ($88,473) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,450, 5% of purchase price) and a second mortgage for the rest ($61,023 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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