Loan Comparison: 6.95% vs 6.5%
1385 Dayton Street, Aurora, CO 80010 · 2bd/2ba · $449,000
List Price
$449,000
Assumable Rate
6.95%
Remaining Balance
$77,755
Equity Gap
$371,245
Loan Type
FHAAdjust Your Scenario
$22,450
$22,450$371,245
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.95% (FHA)
Blended Rate: 7.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,696/moAssumable @ 6.95% + gap loan
$2,954/moAssumed loan: $515/mo
Gap financing: $2,439/mo
Your Savings on This Property
1385 Dayton Street, Aurora · 6.95% 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 ($371,245) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,450, 5% of purchase price) and a second mortgage for the rest ($348,795 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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