Loan Comparison: 5.62% vs 6.5%
1232 Waco, Aurora, CO 80017 · 2bd/2ba · $279,990
List Price
$279,990
Assumable Rate
5.62%
Remaining Balance
$52,582
Equity Gap
$227,408
Loan Type
FHAAdjust Your Scenario
$14,000
$14,000$227,408
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.62% (FHA)
Blended Rate: 7.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,681/moAssumable @ 5.62% + gap loan
$1,943/moAssumed loan: $303/mo
Gap financing: $1,641/mo
Your Savings on This Property
1232 Waco, Aurora · 5.62% 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 ($227,408) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,000, 5% of purchase price) and a second mortgage for the rest ($213,408 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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