Loan Comparison: 6.21% vs 6.5%
1921 Hannibal Court, Aurora, CO 80013 · 3bd/3ba · $250,000
List Price
$250,000
Assumable Rate
6.21%
Remaining Balance
$7,282
Equity Gap
$242,717
Loan Type
FHAAdjust Your Scenario
$12,500
$12,500$242,717
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.21% (FHA)
Blended Rate: 7.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,501/moAssumable @ 6.21% + gap loan
$1,654/moAssumed loan: $45/mo
Gap financing: $1,610/mo
Your Savings on This Property
1921 Hannibal Court, Aurora · 6.21% 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 ($242,717) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,500, 5% of purchase price) and a second mortgage for the rest ($230,217 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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