Loan Comparison: 6.42% vs 6.5%
3725 Granby Way, Aurora, CO 80014 · 3bd/3ba · $388,000
List Price
$388,000
Assumable Rate
6.42%
Remaining Balance
$365,847
Equity Gap
$22,153
Loan Type
FHAAdjust Your Scenario
$19,400
$19,400$22,153
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.42% (FHA)
Blended Rate: 6.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,330/moAssumable @ 6.42% + gap loan
$2,312/moAssumed loan: $2,293/mo
Gap financing: $19/mo
$17less per month with the assumable
Your Savings on This Property
3725 Granby Way, Aurora · 6.42% FHA vs 6.5% conventional
$17
per month
$208
per year
$6,252
over 30 years
$6,252
interest saved
How gap financing works: The equity gap ($22,153) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,400, 5% of purchase price) and a second mortgage for the rest ($2,753 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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