Loan Comparison: 5.54% vs 6.5%
1024 Mobile, Aurora, CO 80017 · 3bd/3ba · $450,000
List Price
$450,000
Assumable Rate
5.54%
Remaining Balance
$311,879
Equity Gap
$138,121
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$138,121
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.54% (FHA)
Blended Rate: 6.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 5.54% + gap loan
$2,668/moAssumed loan: $1,779/mo
Gap financing: $889/mo
$34less per month with the assumable
Your Savings on This Property
1024 Mobile, Aurora · 5.54% FHA vs 6.5% conventional
$34
per month
$413
per year
$12,390
over 30 years
$12,390
interest saved
How gap financing works: The equity gap ($138,121) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($115,621 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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