Loan Comparison: 4.45% vs 6.5%
11693 7th Avenue, Aurora, CO 80010 · 5bd/2ba · $315,000
List Price
$315,000
Assumable Rate
4.45%
Remaining Balance
$210,612
Equity Gap
$104,388
Loan Type
FHAAdjust Your Scenario
$15,750
$15,750$104,388
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.45% (FHA)
Blended Rate: 5.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,891/moAssumable @ 4.45% + gap loan
$1,681/moAssumed loan: $1,061/mo
Gap financing: $620/mo
$211less per month with the assumable
Your Savings on This Property
11693 7th Avenue, Aurora · 4.45% FHA vs 6.5% conventional
$211
per month
$2,530
per year
$75,889
over 30 years
$75,889
interest saved
How gap financing works: The equity gap ($104,388) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,750, 5% of purchase price) and a second mortgage for the rest ($88,638 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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