Loan Comparison: 6% vs 6.5%
15350 Arizona, Aurora, CO 80017 · 1bd/1ba · $185,000
List Price
$185,000
Assumable Rate
6%
Remaining Balance
$21,144
Equity Gap
$163,694
Loan Type
FHAAdjust Your Scenario
$9,250
$9,250$163,694
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6% (FHA)
Blended Rate: 8.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,111/moAssumable @ 6% + gap loan
$1,314/moAssumed loan: $127/mo
Gap financing: $1,188/mo
Your Savings on This Property
15350 Arizona, 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 ($163,694) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,250, 5% of purchase price) and a second mortgage for the rest ($154,444 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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