Loan Comparison: 6.95% vs 6.5%
4596 Hannibal Street, Aurora, CO 80015 · 3bd/3ba · $324,900
List Price
$324,900
Assumable Rate
6.95%
Remaining Balance
$296,696
Equity Gap
$28,204
Loan Type
FHAAdjust Your Scenario
$16,245
$16,245$28,204
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.95% (FHA)
Blended Rate: 6.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,951/moAssumable @ 6.95% + gap loan
$2,048/moAssumed loan: $1,964/mo
Gap financing: $84/mo
Your Savings on This Property
4596 Hannibal 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 ($28,204) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,245, 5% of purchase price) and a second mortgage for the rest ($11,959 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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