Loan Comparison: 7.15% vs 6.5%
11610 Bayaud Drive, Aurora, CO 80012 · 3bd/1ba · $230,000
List Price
$230,000
Assumable Rate
7.15%
Remaining Balance
$11,766
Equity Gap
$218,234
Loan Type
FHAAdjust Your Scenario
$11,500
$11,500$218,234
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.15% (FHA)
Blended Rate: 7.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,381/moAssumable @ 7.15% + gap loan
$1,525/moAssumed loan: $79/mo
Gap financing: $1,446/mo
Your Savings on This Property
11610 Bayaud Drive, Aurora · 7.15% 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 ($218,234) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,500, 5% of purchase price) and a second mortgage for the rest ($206,734 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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