Loan Comparison: 6.13% vs 6.5%
25107 Canal Place, Aurora, CO 80018 · 5bd/3ba · $535,000
List Price
$535,000
Assumable Rate
6.13%
Remaining Balance
$433,329
Equity Gap
$101,670
Loan Type
FHAAdjust Your Scenario
$26,750
$26,750$101,670
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.13% (FHA)
Blended Rate: 6.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,212/moAssumable @ 6.13% + gap loan
$3,158/moAssumed loan: $2,634/mo
Gap financing: $524/mo
$54less per month with the assumable
Your Savings on This Property
25107 Canal Place, Aurora · 6.13% FHA vs 6.5% conventional
$54
per month
$651
per year
$19,541
over 30 years
$19,540
interest saved
How gap financing works: The equity gap ($101,670) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,750, 5% of purchase price) and a second mortgage for the rest ($74,920 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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