Loan Comparison: 7.11% vs 6.5%
14434 1st Drive, Aurora, CO 80207 · 3bd/1ba · $215,000
List Price
$215,000
Assumable Rate
7.11%
Remaining Balance
$15,198
Equity Gap
$199,801
Loan Type
FHAAdjust Your Scenario
$10,750
$10,750$199,801
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.11% (FHA)
Blended Rate: 7.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,291/moAssumable @ 7.11% + gap loan
$1,424/moAssumed loan: $102/mo
Gap financing: $1,322/mo
Your Savings on This Property
14434 1st Drive, Aurora · 7.11% 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 ($199,801) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,750, 5% of purchase price) and a second mortgage for the rest ($189,051 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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