Loan Comparison: 4.37% vs 6.5%
11778 Canal, Aurora, CO 80011 · 2bd/3ba · $275,000
List Price
$275,000
Assumable Rate
4.37%
Remaining Balance
$292,022
Equity Gap
$54,778
Loan Type
FHAAdjust Your Scenario
$13,750
$13,750$54,778
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.37% (FHA)
Blended Rate: 4.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,651/moAssumable @ 4.37% + gap loan
$1,773/moAssumed loan: $1,457/mo
Gap financing: $315/mo
Your Savings on This Property
11778 Canal, Aurora · 4.37% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$28,113
interest saved
How gap financing works: The equity gap ($54,778) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,750, 5% of purchase price) and a second mortgage for the rest ($41,028 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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