Loan Comparison: 5.88% vs 6.5%
7170 Wenatchee Way, Aurora, CO 80013 · 2bd/2ba · $315,000
List Price
$315,000
Assumable Rate
5.88%
Remaining Balance
$76,681
Equity Gap
$238,319
Loan Type
FHAAdjust Your Scenario
$15,750
$15,750$238,319
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.88% (FHA)
Blended Rate: 7.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,891/moAssumable @ 5.88% + gap loan
$2,010/moAssumed loan: $454/mo
Gap financing: $1,556/mo
Your Savings on This Property
7170 Wenatchee Way, Aurora · 5.88% 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 ($238,319) 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 ($222,569 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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