Loan Comparison: 5.55% vs 6.5%
21962 44th Drive, Aurora, CO 80019 · 4bd/3ba · $649,900
List Price
$649,900
Assumable Rate
5.55%
Remaining Balance
$525,406
Equity Gap
$124,493
Loan Type
FHAAdjust Your Scenario
$32,495
$32,495$124,493
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.55% (FHA)
Blended Rate: 5.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,902/moAssumable @ 5.55% + gap loan
$3,643/moAssumed loan: $3,000/mo
Gap financing: $643/mo
$259less per month with the assumable
Your Savings on This Property
21962 44th Drive, Aurora · 5.55% FHA vs 6.5% conventional
$259
per month
$3,113
per year
$93,404
over 30 years
$93,403
interest saved
How gap financing works: The equity gap ($124,493) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,495, 5% of purchase price) and a second mortgage for the rest ($91,998 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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