Loan Comparison: 5.23% vs 6.5%
11688 Cedar, Aurora, CO 80012 · 2bd/2ba · $336,000
List Price
$336,000
Assumable Rate
5.23%
Remaining Balance
$313,841
Equity Gap
$19,832
Loan Type
FHAAdjust Your Scenario
$16,800
$16,800$19,832
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 5.26%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,018/moAssumable @ 5.23% + gap loan
$1,752/moAssumed loan: $1,729/mo
Gap financing: $23/mo
$265less per month with the assumable
Your Savings on This Property
11688 Cedar, Aurora · 5.23% FHA vs 6.5% conventional
$265
per month
$3,181
per year
$95,433
over 30 years
$93,106
interest saved
How gap financing works: The equity gap ($19,832) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,800, 5% of purchase price) and a second mortgage for the rest ($3,032 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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