Loan Comparison: 6.15% vs 6.5%
277 Scottsburg Court, Aurora, CO 80018 · 2bd/2ba · $585,000
List Price
$585,000
Assumable Rate
6.15%
Remaining Balance
$179,164
Equity Gap
$405,836
Loan Type
FHAAdjust Your Scenario
$29,250
$29,250$405,836
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.15% (FHA)
Blended Rate: 7.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 6.15% + gap loan
$3,725/moAssumed loan: $1,092/mo
Gap financing: $2,633/mo
Your Savings on This Property
277 Scottsburg Court, Aurora · 6.15% 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 ($405,836) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($376,586 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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