Loan Comparison: 5.52% vs 6.5%
2520 Fairplay, Aurora, CO 80014 · 5bd/3ba · $575,000
List Price
$575,000
Assumable Rate
5.52%
Remaining Balance
$464,428
Equity Gap
$110,572
Loan Type
FHAAdjust Your Scenario
$28,750
$28,750$110,572
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (FHA)
Blended Rate: 5.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 5.52% + gap loan
$3,272/moAssumed loan: $2,643/mo
Gap financing: $629/mo
$181less per month with the assumable
Your Savings on This Property
2520 Fairplay, Aurora · 5.52% FHA vs 6.5% conventional
$181
per month
$2,169
per year
$65,063
over 30 years
$65,063
interest saved
How gap financing works: The equity gap ($110,572) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($81,822 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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