Loan Comparison: 7.04% vs 6.5%
15004 Crestridge Drive, Aurora, CO 80015 · 4bd/4ba · $559,800
List Price
$559,800
Assumable Rate
7.04%
Remaining Balance
$7,786
Equity Gap
$552,014
Loan Type
FHAAdjust Your Scenario
$27,990
$27,990$552,014
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.04% (FHA)
Blended Rate: 7.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,361/moAssumable @ 7.04% + gap loan
$3,716/moAssumed loan: $52/mo
Gap financing: $3,664/mo
Your Savings on This Property
15004 Crestridge Drive, Aurora · 7.04% 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 ($552,014) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,990, 5% of purchase price) and a second mortgage for the rest ($524,024 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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