Loan Comparison: 7.76% vs 6.5%
6335 Harvest Street, Aurora, CO 80016 · 5bd/5ba · $689,000
List Price
$689,000
Assumable Rate
7.76%
Remaining Balance
$442
Equity Gap
$688,558
Loan Type
FHAAdjust Your Scenario
$34,450
$34,450$688,558
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.76% (FHA)
Blended Rate: 7.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,137/moAssumable @ 7.76% + gap loan
$4,577/moAssumed loan: $3/mo
Gap financing: $4,574/mo
Your Savings on This Property
6335 Harvest Street, Aurora · 7.76% 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 ($688,558) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,450, 5% of purchase price) and a second mortgage for the rest ($654,108 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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