Loan Comparison: 6% vs 6.5%
1591 Dawson, Aurora, CO 80012 · 3bd/2ba · $459,900
List Price
$459,900
Assumable Rate
6%
Remaining Balance
$120,720
Equity Gap
$339,180
Loan Type
FHAAdjust Your Scenario
$22,995
$22,995$339,180
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6% (FHA)
Blended Rate: 7.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 6% + gap loan
$3,155/moAssumed loan: $724/mo
Gap financing: $2,431/mo
Your Savings on This Property
1591 Dawson, Aurora · 6% 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 ($339,180) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,995, 5% of purchase price) and a second mortgage for the rest ($316,185 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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