Loan Comparison: 6.15% vs 6.5%
1110 Salida Way, Aurora, CO 80017 · 2bd/2ba · $400,000
List Price
$400,000
Assumable Rate
6.15%
Remaining Balance
$282,089
Equity Gap
$117,911
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$117,911
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.15% (FHA)
Blended Rate: 6.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 6.15% + gap loan
$2,403/moAssumed loan: $1,719/mo
Gap financing: $685/mo
Your Savings on This Property
1110 Salida Way, Aurora · 6.15% 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 ($117,911) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($97,911 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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