Loan Comparison: 6.48% vs 6.5%
5228 Jericho Way, Aurora, CO 80015 · 1bd/1ba · $450,000
List Price
$450,000
Assumable Rate
6.48%
Remaining Balance
$64,609
Equity Gap
$385,390
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$385,390
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.48% (FHA)
Blended Rate: 7.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 6.48% + gap loan
$2,945/moAssumed loan: $408/mo
Gap financing: $2,537/mo
Your Savings on This Property
5228 Jericho Way, Aurora · 6.48% 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 ($385,390) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($362,890 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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