Loan Comparison: 6.39% vs 6.5%
1321 Biloxi Court, Aurora, CO 80018 · 4bd/2ba · $545,000
List Price
$545,000
Assumable Rate
6.39%
Remaining Balance
$472,514
Equity Gap
$72,486
Loan Type
FHAAdjust Your Scenario
$27,250
$27,250$72,486
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.39% (FHA)
Blended Rate: 6.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,273/moAssumable @ 6.39% + gap loan
$3,269/moAssumed loan: $2,953/mo
Gap financing: $316/mo
$4less per month with the assumable
Your Savings on This Property
1321 Biloxi Court, Aurora · 6.39% FHA vs 6.5% conventional
$4
per month
$45
per year
$1,341
over 30 years
$1,341
interest saved
How gap financing works: The equity gap ($72,486) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,250, 5% of purchase price) and a second mortgage for the rest ($45,236 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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