Loan Comparison: 6% vs 6.5%
14499 1st. Drive, Aurora, CO 80011 · 4bd/3ba · $215,000
List Price
$215,000
Assumable Rate
6%
Remaining Balance
$50,529
Equity Gap
$164,470
Loan Type
FHAAdjust Your Scenario
$10,750
$10,750$164,470
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6% (FHA)
Blended Rate: 7.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,291/moAssumable @ 6% + gap loan
$1,378/moAssumed loan: $303/mo
Gap financing: $1,075/mo
Your Savings on This Property
14499 1st. Drive, Aurora · 6% 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 ($164,470) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,750, 5% of purchase price) and a second mortgage for the rest ($153,720 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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