Loan Comparison: 6.72% vs 6.5%
22156 Berry Place, Aurora, CO 80015 · 3bd/3ba · $400,000
List Price
$400,000
Assumable Rate
6.72%
Remaining Balance
$8,730
Equity Gap
$391,269
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$391,269
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.72% (FHA)
Blended Rate: 7.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 6.72% + gap loan
$2,652/moAssumed loan: $56/mo
Gap financing: $2,596/mo
Your Savings on This Property
22156 Berry Place, Aurora · 6.72% 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 ($391,269) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($371,269 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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