Loan Comparison: 5.55% vs 6.5%
337 Ivory, Aurora, CO 80011 · 3bd/3ba · $480,000
List Price
$480,000
Assumable Rate
5.55%
Remaining Balance
$435,810
Equity Gap
$44,190
Loan Type
FHAAdjust Your Scenario
$24,000
$24,000$44,190
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.55% (FHA)
Blended Rate: 5.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,882/moAssumable @ 5.55% + gap loan
$2,643/moAssumed loan: $2,488/mo
Gap financing: $155/mo
$239less per month with the assumable
Your Savings on This Property
337 Ivory, Aurora · 5.55% FHA vs 6.5% conventional
$239
per month
$2,866
per year
$85,974
over 30 years
$85,974
interest saved
How gap financing works: The equity gap ($44,190) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,000, 5% of purchase price) and a second mortgage for the rest ($20,190 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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