Loan Comparison: 5% vs 6.5%
11955 Ford, Aurora, CO 80012 · 2bd/2ba · $274,999
List Price
$274,999
Assumable Rate
5%
Remaining Balance
$89,500
Equity Gap
$329,530
Loan Type
FHAAdjust Your Scenario
$13,750
$13,750$329,530
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5% (FHA)
Blended Rate: 7.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,651/moAssumable @ 5% + gap loan
$2,909/moAssumed loan: $480/mo
Gap financing: $2,428/mo
Your Savings on This Property
11955 Ford, Aurora · 5% 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 ($329,530) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,750, 5% of purchase price) and a second mortgage for the rest ($315,780 at 8.5%). 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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